CINCINNATI, Sept. 20, 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 demonstrate the HorseFly™ drone
package delivery system at the PACK EXPO at the Las Vegas Convention Center, September 25-27, 2017 (Booth #645).
The Workhorse HorseFly™ Unmanned Aerial Vehicle Delivery System
is a carbon fiber, high-efficiency octocopter delivery drone that
is fully integrated with Workhorse's line of electric/hybrid
delivery trucks.
In the PACK EXPO demo, the HorseFly will launch from the roof of
an electric delivery truck and deliver a package to mock houses in
the 15,000-square-foot exhibit area in the North Hall. After the
delivery, the lithium polymer battery-powered HorseFly will return
to the truck to dock and recharge. Demonstrations will occur
regularly during each day of the show. A camera mounted on the
HorseFly will give visitors a drone's eye view of the exhibit hall
and its delivery route.
The patent-pending truck and drone HorseFly package delivery
system is compliant with all current FAA regulations. It can carry
a package weighing up to 10 pounds with an energy cost of
approximately $.03 per mile for
electricity.
Earlier this year, UPS and Workhorse successfully tested
residential package delivery by autonomous drone from atop an
electric UPS step van also built by Workhorse. The delivery
demonstrates the improved efficiencies drones can provide on rural
delivery routes, while reducing vehicle emissions. This technology
could save time and reduce costly driver miles.
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.
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SOURCE Workhorse Group Inc.