CINCINNATI, July 10, 2017 /PRNewswire/ -- Workhorse
Group Inc. (NASDAQ: WKHS), an American technology company focused
on providing electric mobility solutions to the transportation
sector, today announced that it will display the SureFly™
helicopter concept for the first time in the U.S. at EAA AirVenture
Oshkosh 2017 (BOOTH #IC-9 in the EAA Innovation Center). The
booth will also display the Workhorse HorseFly™ package delivery
drone.
The goal of SureFly is to be safer and more stable than a
typical helicopter due to its redundant design which includes a
lightweight Carbon Fiber fuselage, four propeller arms, two fixed
contra-rotating propellers on each arm, a backup battery to drive
the electric motors in the event of engine failure and a ballistic
parachute that safely brings down the craft in the unlikely event
of an engine failure.
SureFly's hybrid design leverages Workhorse's platform battery
packaging, management systems and controls utilized in its
currently commercialized medium-duty, range-extended battery
electric vehicles. It features a gas combustion engine generating
electricity and a parallel battery pack offering a redundant backup
power source, eliminating the need for long battery charging
periods between flights. SureFly is designed to be easy to pilot,
and is expected to be capable of carrying pilot and passenger or
cargo up to 70 miles. After a quick refill, SureFly is ready for
the next hop.
Early models will be pilot-operated. The goal is to
introduce future models featuring autonomous flight capable of
carrying payloads of up to 400 pounds. Anticipated markets for the
SureFly are precision agriculture, emergency responders, city
commuters and military.
The SureFly is currently undergoing ground testing in
Ohio and the company anticipates
its first human test flight later this year with FAA certification
in 2019. Workhorse estimates the SureFly to cost about $200,000 and is accepting pre-orders at its
website, www.workhorse.com.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing electric
mobility solutions to the 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. For additional information visit
www.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 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.
View original
content:http://www.prnewswire.com/news-releases/workhorse-group-inc-to-display--surefly-helicopter-concept-at-eaa-airventure-oshkosh-300485085.html
SOURCE Workhorse Group Inc.