CINCINNATI, Oct. 16, 2018 /PRNewswire/ -- Workhorse
Group Inc. (NASDAQ: WKHS), an American automotive technology
company providing sustainable and cost-effective transportation
solutions, announced today that the Workhorse NGEN-1000, a new
light-weight electric delivery vehicle, has entered initial
production. The NGEN-1000's curb weight is 4,000lbs – less than
one-half of what a traditional diesel step-van weighs – while
carrying the same cubic footage of storage, 1,000 cubic feet.
Management believes this weight reduction, coupled with the
100-mile range, will have cost-savings implications that will make
the EV alternative to traditional fleet delivery vehicles all the
more appealing. The NGEN will be available in four cargo sizes for
customers: 250, 450, 700 and 1,000 cubic feet.
"For as long as I can remember, we've been discussing what the
future of delivery looks like and what role electric vehicles will
play in that," said Stephen S.
Burns, CEO of Workhorse. "We are proud to say – the future
is here. With an off-the-lot cost on par with traditional fuel
delivery vehicles, and substantial savings from there, we believe
the NGEN will forever change the business of delivery as we know
it."
The lightweight design allows for 100-mile range, with a smaller
battery pack than previous designs, thereby reducing the cost of
the vehicle significantly. The smaller battery pack also reduces
the cost of the charging infrastructure for the customer.
The NGEN-1000 is the first in the NGEN series to go into
production at Workhorse's Midwest plant, and features a unique new
design with a grill-less front end, making it stand out from its
diesel counterparts.
Features include:
- Low floor with 7.25" ground clearance, making loading
and unloading easier, and entry and egress safer
- Hub motors in front provide tighter turning radius than
comparable vehicles
- All-Wheel drive provides surefooted handling in
inclement weather conditions
- Composite construction, enables a lightweight and
rust-free body
- 6,000 lb carrying capacity, robust enough for even the
heaviest loads
- Ergonomic driving position fits drivers from 5'2" to
6'5" comfortably
About Workhorse Group Inc.
Workhorse is an American
technology company focused on changing the way the world works by
providing sustainable and cost-effective transportation solutions.
As an original equipment manufacturer, Workhorse designs and builds
high performance battery-electric vehicles, including trucks,
aircraft and drones. They also develop cloud-based, real-time
telematics performance monitoring systems that are fully integrated
with their vehicles to 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 Statement
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.
Contact: Ryan Hallett
212-546-2598
ryan.hallett@grey.com
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SOURCE Workhorse Group Inc.