CINCINNATI, Sept. 24, 2020 /PRNewswire/ -- Workhorse
Group Inc. (Nasdaq: WKHS) ("Workhorse" or
"the Company"), an American technology company focused on
providing sustainable and cost-effective drone-integrated electric
vehicles to the last-mile delivery sector, today announced that its
C-Series all-electric delivery trucks have achieved an improved and
industry-leading range. New data from testing showed that
Workhorse's 2020 model year C-1000 Extended Range achieved a
maximum of approximately 160 miles per charge under urban
situations.
In July, the Company announced that it had been awarded
Executive Order: A-445-0003 from the California Air Resources
Board ("CARB"), which designates the C-Series trucks as
zero-emission vehicles in the state of California. As part of the Executive Order
approval process, each vehicle under consideration was required to
be tested through the Environmental Protection Agency's ("EPA")
prescribed Urban Driving Cycle and Highway Driving Cycle.
"Achieving a 160-mile range has been a goal of ours and the
last-mile delivery sector at large for quite some time as it
significantly expands the addressable market for our solutions,"
said Workhorse CEO Duane Hughes. "As
the only purpose-built last-mile EV delivery truck with a
light-weighting design, we are competitively positioned to be more
efficient with a smaller battery pack configuration compared to
other EVs and can handle the stop-and-start nature of last-mile
delivery more effectively than traditional ICEs. By extending
vehicle range and keeping production costs in line with
competitors, we have opened up an extended range of possibilities
in suburban and rural locations. Additionally and equally
important, the related charging and infrastructure costs are now
lowered, which will further reduce the total cost of ownership for
potential customers."
About Workhorse Group Inc.
Workhorse is
a technology company focused on providing drone-integrated electric
vehicles to the last-mile delivery sector. As an American original
equipment manufacturer, we design and build high performance,
battery-electric vehicles including trucks and aircraft. Workhorse
also develops cloud-based, real-time telematics performance
monitoring systems that are fully integrated with our vehicles and
enable fleet operators to optimize energy and route efficiency. All
Workhorse vehicles are designed to make the movement of people and
goods more efficient and less harmful to the environment. For
additional information visit workhorse.com.
Forward-Looking Statements
This press release includes forward-looking statements.
These statements are made under the "safe harbor" provisions of the
U.S. Private Securities Litigation Reform Act of 1995. These
statements may be identified by words such as "believes,"
"expects," "anticipates," "estimates," "projects," "intends,"
"should," "seeks," "future," "continue," or the negative of such
terms, or other comparable terminology. Forward-looking statements
are statements that are not historical facts. Such
forward-looking statements are subject to risks and uncertainties,
which could cause actual results to differ materially from the
forward-looking statements contained herein. Factors that
could cause actual results to differ materially include, but are
not limited to: our limited operations and need to expand in the
near future to fulfill product orders; risks associated with
obtaining orders and executing upon such orders; the ability to
protect our intellectual property; the potential lack of market
acceptance of our products; potential competition; our inability to
retain key members of our management team; our inability to raise
additional capital to fund our operations and business plan; our
inability to satisfy covenants in our financing agreements; our
inability to maintain our listing of our securities on the Nasdaq
Capital Market; our inability to satisfy our customer warranty
claims; our ability to continue as a going concern; our liquidity
and other risks and uncertainties and other factors discussed from
time to time in our filings with the Securities and Exchange
Commission ("SEC"), including our annual report on Form 10-K filed
with the SEC. Workhorse expressly disclaims any obligation to
publicly update any forward-looking statements contained herein,
whether as a result of new information, future events or otherwise,
except as required by law.
Media Contact:
Mike Dektas
Creative
Storm PR
513-266-3590
mike@creativestorm.com
Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor
Relations
949-574-3860
WKHS@gatewayir.com
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SOURCE Workhorse Group Inc.