Workhorse C-Series All-Electric Delivery Trucks Achieve Premium Range For Last-Mile Delivery
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.
