CINCINNATI, July 13, 2020 /PRNewswire/ -- Workhorse
Group
Inc. (Nasdaq: WKHS) ("Workhorse"),
an American technology company focused on providing sustainable and
cost-effective drone-integrated electric vehicles to the last-mile
delivery sector, announced that its C-Series all-electric delivery
trucks have received Executive Order: A-445-0003
from the California Air Resources Board ("CARB"), which
is valid for production of a vehicle during the specified
model year. With this certification, the C-Series trucks are
designated as zero-emission vehicles in the state of
California. Workhorse also becomes the first and only medium
duty battery electric vehicle ("BEV") original equipment
manufacturer ("OEM") to receive approvals from both the
Environmental Protection Agency ("EPA") as well as CARB.
An Executive Order from CARB is given to vehicle manufacturers
who meet specific emissions standards in compliance with CARB
regulations. Obtaining an Executive Order is also one of the
preliminary requirements in order to be considered for the
California Hybrid and Zero-Emission Truck and Bus Voucher
Incentive Project ("HVIP"). Vehicles permitted into the HVIP
program are eligible for monetary vouchers to reduce total cost for
the purchaser.
Following the Company's Certificate of Conformity ("CoC")
award from the EPA in March and its FMVSS Certification in
June, the CARB Executive Order further builds on Workhorse's
leadership position in the EV last mile delivery industry.
California as well as 13 other
states have adopted vehicle standards under Section
177 of the Clean Air Act, which requires additional
approvals beyond EPA regulations. Having received credentials from
both regulatory bodies, Workhorse can sell its C-series electric
delivery vans in every state throughout the U.S.
"Obtaining this Executive Order from CARB is another milestone
achievement for Workhorse and for the electric vehicle industry at
large," said Company CEO Duane
Hughes. "As a next step, we will also be continuing with our
efforts to be considered for the HVIP program, which we expect will
be a major growth stimulus as more voucher funds become available
in the future. Going forward, this Executive Order will take on
even more significance with CARB's recent Advanced Clean Truck
regulation, which will require manufacturers of commercial vehicles
to start selling electric options in 2024 and move exclusively to
electric trucks in California by
2045."
About Workhorse Group Inc.
Workhorse is a technology company focused on providing
drone-integrated electric vehicles to the last-mile delivery
sector. As an American original equipment manufacturer, we design
and build high performance, battery-electric vehicles including
trucks and aircraft. Workhorse also develops 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 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 satisfy covenants in
our financing agreements; our inability to maintain our listing of
our securities on the Nasdaq Capital Market; our inability to
satisfy our customer warranty claims; 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.
Media Contact:
Mike Dektas
Creative
Storm PR
513-266-3590
mike@creativestorm.com
Workhorse Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor Relations
949-574-3860
WKHS@gatewayir.com
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SOURCE Workhorse Group Inc.