A Race to Become the Tesla of Delivery Trucks and Vans

A Race to Become the Tesla of Delivery Trucks and Vans

A Race to Become the Tesla of Delivery Trucks and VansInvestors are betting that small companies like Workhorse will help popularize electric commercial vehicles. And Tesla aims to extend its reach.Pritchard Commercial has been putting five Workhorse C-Series vans through a series of winter-driving tests.Credit...Evan Taylor/Don't BlinkBy Neal E. BoudetteA business like Workhorse Group, which employs 130 people and had sales of less than $1 million in the first nine months of the year, would not normally attract much attention on Wall Street.But these are not normal times.Workhorse is aiming to make electric delivery vans. Its stock has risen nearly sevenfold this year, and it is not alone. Several of its competitors started trading on the stock market this year and have seen their share prices rocket up.Because of the success of Tesla and its electric cars, many investors have become convinced that electric vehicles are no fad, and that a real transition away from internal combustion engines is well underway. For a time, investors poured money almost exclusively into Tesla, but that capital has spread to makers of commercial vehicles like Workhorse in anticipation of large orders from companies including Amazon and UPS, which are delivering more packages every