Try to start an electric vehicle startup but have trouble? Workhorse GroupFollowing a complete product-roadmap revamp, expect to construct approximately 250 vehicles in 2022. company said Tuesday.  

Workhorse’s electric vans have struggled to gain market acceptance for many years. After CEO Rick Dauch directed a redesign of the C-1000 company van, which was designed to provide “last mile” delivery services, it was pulled from service last year. 

After exhausting its parts inventory, the company plans to end production of this model. 

Workhorse posted a loss of $156.1million for its fourth quarter in 2021. This was a significant decrease from its $280.5 million net profit the year before, which saw a gain of $322 million on its stake in an EV startup. Lordstown Motors.

Workhorse completed the sale of its Lordstown stake in the third quarter.

Dauch joined Workhorse as a senior leader in July last year. He also opened a Michigan-based technical center and updated the company’s product plans. 

Investors may not see immediate results, however. 

The new product plan hinges on two new electric commercial vehicle platforms, the first of which won’t begin production until the third quarter of 2023, the company said on Tuesday.

Workhorse, a Canadian company, will continue to develop a brand new electric van for commercial use. GreenPower Motor. 

Unter a deal announced on Tuesday morningGreenPower will deliver 1,500 EVs to Workhorse for 21 months starting in July. Workhorse plans to construct its vans using these chassis. It expects the first vans to be shipped by the end September. 

Bob Ginnan, Chief Financial Officer, stated Tuesday that the outlook for 2022 is based on our plan to ramp up manufacturing. However, this process is currently backloaded as we don’t expect any cars to be produced in the first half.

Ginnan indicated that these new vans along with the C-1000s should bring in at least $25million in revenue by 2022. 

Workhorse owned approximately $201.6million in cash as of December 31 2021.