CINCINNATI, March 29, 2017 /PRNewswire/ -- Workhorse
Group Inc. (NASDAQ: WKHS), an American technology company focused
on providing sustainable and cost-effective solutions to the
commercial transportation sector, will attend the U.S. Department
of Transportation Welcoming Ceremony and Open House in honor of
Secretary Elaine L. Chao and the
50th Anniversary of the Department on Wednesday, March
29, 2017.
"As an innovator in the transportation industry, Workhorse is
honored to participate in the celebration of the Department of
Transportation's 50th birthday," said Steve Burns, CEO of Workhorse. "Over the course
of its history, the department has played a key role in moving the
transportation industry forward and creating an environment where
efficiency, safety and reliability are priorities, just as they are
for Workhorse."
As part of a presentation on the history of transportation to
celebrate the 50th anniversary, Workhorse will display
its E-GEN electric step van and HorseFly autonomous drone delivery
system at the entrance to the Department of Transportation (DOT) at
1200 New Jersey Ave SE, Washington
D.C., 20590 from 9 a.m. to 5
p.m.
The electric step vans achieve 30+ miles per gallon equivalent
(MPGe) during stop-and-go delivery routes. This electric step van
is up to six times as efficient as diesel- or gasoline-powered
medium-duty trucks, which typically generate 5-8 miles per gallon.
Lower fuel and maintenance costs add up to an estimated
$165,000 in total cost-of-ownership
savings over 25 years compared to traditional delivery trucks.
The Workhorse HorseFly van-mounted drone has been making
successful test deliveries in the United
States. The drone is designed to ride on the roof of an
electric step van and be an adjunct delivery tool to a driver's
existing delivery methods.
About Workhorse Group Inc.
Workhorse is a technology
company focused on providing sustainable and cost-effective
solutions to the commercial transportation sector. As an American
original equipment manufacturer, we design and build high
performance battery-electric vehicles including trucks and
aircraft. We also develop 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.
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 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/workhorse-group-to-attend-us-department-of-transportation-50th-anniversary-ceremony-in-washington-dc-300431015.html
SOURCE Workhorse Group Inc.