CINCINNATI, Nov. 16, 2017 /PRNewswire/ -- Workhorse Group
Inc. (NASDAQ: WKHS), an American technology company focused on
providing sustainable and cost-effective solutions to the
commercial electric transportation sector, today announced it will
conduct the first manned flight of its SureFly™ personal hybrid
octocopter on January 8 in
Las Vegas prior to the start of
the 2018 CES. The date is dependent on several factors,
including weather, regulatory approval from the Federal Aviation
Administration and local municipalities.
"After productive conversations with the Federal Aviation
Administration, we're excited to be on a path forward to
experimental status for the SureFly," said Stephen Burns, CEO of Workhorse. "The response
to SureFly's public displays has been enthusiastic, and while we
have much work ahead of us in our march toward certification, this
first test flight represents a significant milestone for the
project."
SureFly, the world's first personal electric hybrid octocopter,
was first unveiled at the Paris Air Show in June. It is scheduled
to be statically displayed at CES in Las
Vegas, January 9-12, 2018. The
Workhorse CES display will be located on the Central Plaza at Booth
#31, near the main entrance of the show.
SureFly re-invents the helicopter, making it safer, easier to
fly and much more affordable than a conventional helicopter. Its
redundant design includes four propeller arms, two fixed
contra-rotating propellers on each arm, a backup lithium battery
pack to drive the electric motors in the event of engine
failure. In addition to the redundant design, a ballistic
parachute that safely brings down the craft will be included in the
final design.
SureFly's hybrid design leverages Workhorse's battery pack,
management systems and controls utilized in its currently
commercialized range-extended battery electric road 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. Pilots who have seen the SureFly like the easy-to-pilot
design, as the aircraft is piloted by joystick in a similar fashion
to flying a drone. The SureFly 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. Future models will be
capable of autonomous flight, with payloads of up to 400 pounds.
Anticipated markets for the SureFly are precision agriculture,
emergency responders, city commuters and military. The company is
working toward full certification of the vehicle in late
2019. The expected price of the SureFly is approximately
$200,000, and Workhorse is currently
accepting pre-orders for the aircraft at www.workhorse.com.
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. 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-announces-first-manned-flight-of-surefly-electric-hybrid-octocopter-300557867.html
SOURCE Workhorse Group Inc.