CINCINNATI, Feb. 13, 2017 /PRNewswire/ -- Workhorse
Group Inc. (NASDAQ: WKHS), an original equipment manufacturer (OEM)
of battery-electric vehicles, today announced that its electric
delivery truck models are achieving 30+ miles per gallon equivalent
(MPGe) during stop-and-go parcel, bakery, and uniform delivery
routes. This is up to six times more fuel efficient than the
typical 5-8 miles per gallon achieved by gasoline- or
diesel-powered medium-duty trucks.
The performance of the vehicles gathered from the data being
collected which demonstrates the fuel savings, total efficiencies
gained and maintenance reductions is modeling as much as
$165,000 total cost-of-ownership
savings per vehicle.
The 30+ MPGe was calculated by analyzing the first 250,000 miles
driven using Workhorse's METRON telematics system, a proprietary
multi-platform proof-of-performance application enabling fleet
managers to monitor and manage the performance of their fleet
vehicles in near real time via a wireless 4G cellular network
connection.
"By achieving 30 MPGe with over 125 medium-duty trucks on the
road, Workhorse is setting a new standard with our electric
delivery vehicles," said Steve
Burns, Workhorse CEO. "Medium-duty local delivery trucks are
the backbone of the Last Mile delivery system and a 6-fold fuel
economy increase as well as reduced maintenance and zero or near
zero emissions are a major change to the conventional delivery
system."
The Workhorse METRON telematics system logs signals from the
vehicle components and uploads them along with GPS data to the
cloud, where the data signals are tracked, processed and made
available for viewing on the web in near real time. The systems'
critical metrics, such as the MPGe measurements, are extremely
accurate.
In addition to tracking fuel efficiency, the METRON system
monitors battery cell voltage, state-of-charge, and total miles as
well as total efficiency. In all, METRON collects over 500 points
of data, every 10 seconds and displays performance, powertrain
system and location data to end users through the application
portal. The Metron system is bi-directional and permits
Workhorse to send new software system updates over the air to the
vehicles in the field when desired.
"Fleets today are watching the efficiency of their vehicles very
closely," Burns said. "METRON telematics allows fleet managers to
monitor and manage all Workhorse electric vehicles in their fleet,
with near real-time insight giving these managers important
performance information about each vehicle. This ensures that our
customers are obtaining the full cost-of-ownership savings coming
from our electric vehicles power and efficiency."
About Workhorse Group Inc.
Workhorse Group, Inc. (NASDAQ: WKHS), is a U.S. – based original
equipment manufacturer of medium duty EPA-approved battery-electric
delivery vehicles and fully integrated truck-launched, FAA
compliant unmanned aerial systems (UAS) delivery drones. Workhorse
trucks have historically been sold to the largest fleets in the
USA and Canada for last-mile delivery and related
uses.
For additional information visit www.workhorse.com
Forward Looking Statement
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 "feel," "believes," expects,"
"estimates," "projects," "intends," "should," "is to be," 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 maintain our listing of our
securities on the Nasdaq Capital Market; 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.
Contact:
Mike Dektas
Workhorse Group Inc.
513-266-3590
Mike.Dektas@workhorse.com
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SOURCE Workhorse Group Inc.