CINCINNATI, March 2, 2017 /PRNewswire/ -- Workhorse
Group Inc. (NASDAQ: WKHS), an original equipment manufacturer (OEM)
of battery-electric vehicles headquartered and manufactured in
Cincinnati, Ohio, today announced
it has received a Letter of Intent from Clean Fuels Ohio to partner
with Workhorse to help deploy 500 W-15 Plug-In Electric Pickup
trucks throughout the state of Ohio.
Having already received Letters of Intent from Duke Energy,
Portland General Electric, the City of
Orlando, and Southern California Public Power Authority,
Clean Fuels Ohio is the latest Letter of Intent Workhorse has
received from fleets and organizations. While not a fleet itself,
Clean Fuels Ohio engages numerous fleets across Ohio on transitions to cleaner vehicle and
fuel options.
With the goal of being the safest pickup truck in America, the
W-15's safety features are expected to include an extra-large
crumple zone, and a lower center of gravity while still providing
ground clearance. The W-15 is also expected to offer crash
mitigation technologies, that include automatic braking and lane
centering. Powered using Panasonic 18650 Li-ion batteries, the
truck's battery pack is expected to deliver all-electric 80 mile
range, covering the majority of miles driven in a day by fleets. If
needed, the on-board gasoline generator will then operate after
battery power has been depleted, extending the range.
"As a U.S. Department of Energy Clean Cities coalition, Clean
Fuels Ohio advocates a wide range of cleaner fuels and technology
options such as natural gas, propane, electric drive, efficiency,
biofuels and hydrogen. The W-15 will be a key part of our efforts
to engage fleets across Ohio in
adopting electric vehicles," said Sam
Spofforth, Executive Director, Clean Fuels Ohio. "We feel
the Workhorse W-15 will offer safety, efficiency, advanced
technology and the sustainability measuring sticks that many
Ohio business and government
fleets are looking for when making fleet decisions."
The Workhorse W-15 light duty platform design is an extension of
the E-Gen electric technology used in Workhorse medium-duty
delivery trucks. Once production commences, the company
expects the W-15 to have a $52,500
MSRP. Workhorse plans to make the W-15 in their Union City factory, which has the capacity to
assemble 60,000 chassis a year.
"We are excited about the appetite we see from fleets for this
vehicle. The number of vehicles spoken for to date has exceeded our
expectations," said Steve Burns,
Workhorse CEO. "Our existing electric medium duty, delivery truck
business has demonstrated that low Total Cost of Ownership (TCO) is
compelling."
The W-15 electric pickup will be unveiled at the ACT EXPO show
in Long Beach, California on
May 2nd. Fleet managers
are invited to attend and drive the working W-15 which will be at
the show.
Fleet managers who would like additional information are
directed to contact Jeff Esfeld at
jeff.esfeld@workhorse.com or 206-228-5400.
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
About Clean Fuels Ohio
Clean Fuels Ohio is a state-wide, non-profit organization
dedicated to improving air quality and health, reducing
environmental pollution, strengthening Ohio's economy, and enhancing our nation's
energy security by promoting and encouraging the use of cleaner,
domestic fuels and efficient vehicles. As a U.S. Department of
Energy Clean Cities coalition, Clean Fuels Ohio has remained the
"go-to" resource for assistance with implementing alternative
transportation solutions.
For more information visit www.cleanfuelsohio.org
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:
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Mike
Dektas
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Sam
Spofforth
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Workhorse Group
Inc.
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Executive
Director
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513-266-3590
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Clean Fuels
Ohio
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Mike.Dektas@workhorse.com
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614-884-7336
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sam@CleanFuelsOhio.org
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visit:http://www.prnewswire.com/news-releases/workhorse-and-clean-fuels-ohio-ink-letter-of-intent-to-deploy-500-w-15-electric-pickup-trucks-across-ohio-fleet-300416738.html
SOURCE Workhorse Group Inc.