CINCINNATI, July 14, 2020 /PRNewswire/ -- Workhorse
Group Inc. (NASDAQ: WKHS), an American
technology company focused on providing sustainable and
cost-effective electric drone-integrated vehicles to the last
mile delivery sector, today announced that Ryder System, Inc.
(NYSE: R) will begin offering the C-Series Workhorse all-electric
step van through the company's ChoiceLease and SelectCare product
lines, as well as for short-term rentals on COOP by Ryder®.
As part of the North America
rollout, Ryder will place the first group of Workhorse C-1000
vehicles through COOP, a peer-to-peer truck sharing platform,
connecting fleet managers to businesses that are looking to rent
vehicles.
In addition, the Workhorse electric vehicles will be offered for
longer-term leases to the Ryder customer base with service and
charging capabilities available out of Ryder's eleven-facility
charge network across California.
This includes two recently upgraded facilities in Fontana and Northridge, California that feature the latest
ABB DC fast chargers installed by Ryder's infrastructure partner --
In-Charge Energy.
Starting in July, through the initial deployment on COOP, Ryder
will offer Workhorse C-1000 electric step vans, allowing COOP
Renters to experience the new C-1000 in actual routes.
"We see immediate opportunities for customers to realize the
benefits of our electric vehicles and turnkey infrastructure model,
starting with the Workhorse C-Series van, as it fulfills a huge
need in this new economy where demand for electric last mile
delivery vehicles continues to increase," said Chris Nordh, Senior Director – Advanced Vehicle
Technology & Energy Products, Ryder System, Inc. "COOP is the
perfect launch platform for new technology vehicles such as the
Workhorse C-Series electric van as it provides customers the
ability to try the vehicles in various markets without any
long-term commitment. Our customers have already expressed a strong
interest in Workhorse's vehicles, and we are excited to bring this
program forward."
"Ryder is a strong leader in offering unique, ground-breaking
solutions for electric vehicle operations," said Duane Hughes, Workhorse CEO. "We have delivered
their first two C-1000s and are very excited to partner with them
in offering our electric C-Series vehicles to their customers
across the country. We are confident that we will be seeing new
orders soon once their customers see the revolutionary nature of
our products are and how accessible they are through Ryder."
The C-1000 Workhorse electric van offers 1,000 cubic feet of
cargo space, weighing in at approximately 13,000 pounds when
fully-loaded. The composite body is lighter than aluminum, is
powered by a modular battery pack system and features a new
low-floor platform for easy in and out access that makes it more
convenient for the driver. The van is also equipped with an onboard
Metron™ proprietary telematics system, enabling the user to track
and monitor performance in real time. The standard C-1000 delivers
nearly 100 miles of range and (37 MPGe).
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.
About Ryder System, Inc.
Ryder System, Inc. (NYSE: R)
is a leading transportation and logistics company. It provides
supply chain, dedicated transportation, and commercial fleet
management solutions, including full service leasing, rental, and
maintenance, used vehicle sales, professional drivers,
transportation services, freight brokerage, warehousing and
distribution, e-commerce fulfillment, and last mile delivery
services, to some of the world's most-recognized brands. Ryder
provides services throughout the United
States, Mexico,
Canada, and the United Kingdom. In addition, Ryder manages
more than 250,000 commercial vehicles and operates more than 300
warehouses encompassing approximately 55 million square feet. Ryder
is regularly recognized for its industry-leading practices in
third-party logistics, technology-driven innovations, commercial
vehicle maintenance, environmentally friendly solutions, corporate
social responsibility, world-class safety and security programs,
military veteran recruitment initiatives, and the hiring of a
diverse workforce. www.ryder.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.
Workhorse 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
Ryder Media Contact:
Jonathan
Mayor
(305)
500-3161
Jonathan_C_Mayor@Ryder.com
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SOURCE Workhorse Group Inc.