CINCINNATI, March 13, 2018 /PRNewswire/ -- Workhorse
Group Inc. (NASDAQ: WKHS), an American technology company focused
on providing sustainable and cost-effective electric mobility
solutions to the commercial electric transportation sector, today
announced that the company has received a $7
million order for Workhorse all-electric delivery trucks, to
be deployed in the Greater San
Diego area.
"We have entered an exciting new phase of our production
operations," said Duane Hughes,
Workhorse President and COO. "We see this gross margin positive
$7 million order as the first of many
more electric truck orders to come."
These all-electric vehicles are being deployed by a major
delivery company in the San Diego
area. Like Workhorse range-extended electric trucks, the
all-electric trucks are powered by Panasonic batteries, deliver a
100-mile range, offer significant fuel and maintenance savings, and
provide uncompromised fleet performance.
Workhorse's ground-breaking technology redefines the economics
of fleet truck use by improving mileage efficiency from an average
of 5.5 MPG to more than 30 MPGe while significantly lowering the
cost of fleet maintenance.
"Our proven electric truck platforms continue to garner customer
adoption all across the country," continued Hughes. "We are excited
to have these trucks destined for deployment in San Diego this year."
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.
Media:
Ryan Hallett
ryan.hallett@grey.com
(212) 546-2598
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SOURCE Workhorse Group Inc.