AMP Electric Vehicles to Acquire Assets of Workhorse From Navistar
March 14, 2013
AMP Holding Inc., through a newly formed subsidiary, Amp Trucks Inc., has entered into a definitive agreement to acquire the Workhorse brand, logo, IP, patents, and assembly plant from Workhorse Custom Chassis LLC, a wholly owned affiliate of Navistar International Corp.
The parties expect to close the acquisition on or about March 13.
AMP plans to produce step-vans and other vehicle types using the former Workhorse Custom Chassis plant in Union City, Ind. A specific timetable to re-open the Workhorse plant will be announced as the transition occurs and order backlogs are established.
With this acquisition, AMP will be positioned to be the first truck OEM in the United States to offer a range of alternative fuel vehicles produced in an automated assembly plant.
AMP’s vehicles will be sold and supported through the existing Workhorse network of 440 dealers.
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