Workhorse Group Adds Riverview International Trucks as its Fifth California Dealer
February 22 2024 - 8:30AM
Workhorse Group Inc. (Nasdaq:
WKHS) (“Workhorse” or “the
Company”), an American technology company focused on
pioneering the transition to zero-emission commercial vehicles,
today announced it has added
Riverview International
Trucks (“Riverview”) as its latest vehicle dealer,
bringing the Company’s total dealer count in California to five.
With locations in West Sacramento and Redding, Riverview is a
family owned and operated full-service heavy-duty truck dealership
that has been serving Northern California since 1981. Riverview’s
customer-first approach has allowed it to forge longstanding
partnerships with leading businesses in California. Customers have
relied on Riverview for over four decades to provide quality
vehicles from leading OEMs as well as full-service lease, contract
maintenance, and daily truck and trailer rentals.
Through this partnership Riverview will be offering the full
suite of Workhorse’s commercialized product line, including the W4
CC, W750, and W56, to current and potential customers throughout
the region.
“This strategic partnership represents another step forward in
our ongoing expansion efforts in California,” said Workhorse CEO
Rick Dauch. “We believe that our purpose-built trucks and
Riverview’s experience selling and servicing customers in the
region will allow us to capitalize on attractive EV incentives
offered by the state. We look forward to partnering with the
Riverview team as they build out their catalogue of electric
vehicles to meet growing demand in the region and statewide.”
Eric Bassett, Owner of Riverview International Trucks, added:
“Partnering with Workhorse allows us to offer our customers a
best-in-class portfolio of electric vehicles. All three of
Workhorse’s available trucks have received HVIP approval, which
provides a valuable financial incentive to our operators who are
already looking to electrify their fleets. As the EV market
continues to expand, we intend to operate at the forefront while
remaining committed to the same standard of care that has made
Riverview a trusted partner to our customers for over four
decades.”
About Riverview International TrucksRiverview
International Trucks is an authorized International Truck, Allison
Transmission, and Cummins dealership serving Northern California
from Galt to the Oregon border with locations in West Sacramento
and Redding. Family owned and operated since its founding in 1981
as a full-service heavy-duty truck dealership, Riverview prides
itself on taking care of our customers and employees, many of which
have called Riverview their home for over 25 years. When you are
ready to invest in a new or used truck, our friendly,
knowledgeable, and multilingual team will ensure you get the right
truck for the job. For additional information
visit riverviewinternational.com.
About Workhorse Group Inc.Workhorse is a
technology company focused on providing ground and air-based
electric vehicles to the last-mile delivery sector. As an American
original equipment manufacturer, we design and build high
performance, battery-electric trucks, and drones. 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 StatementsThis press release
contains forward-looking statements reflecting our current
expectations that involve risks and uncertainties. These
statements are made under the “safe harbor” provisions of the U.S.
Private Securities Litigation Reform Act of 1995. When used in this
release, the words “anticipate,” “expect,” “plan,” “believe,”
“seek,” “estimate” and similar expressions are intended to identify
forward-looking statements. These are statements that relate to
future periods and include, but are not limited to, statements
about the features, benefits and performance of our products, our
ability to introduce new product offerings and increase revenue
from existing products, expected expenses including those related
to selling and marketing, product development and general and
administrative, our beliefs regarding the health and growth of the
market for our products, anticipated increase in our customer base,
expansion of our products functionalities, expected revenue levels
and sources of revenue, expected impact, if any, of legal
proceedings, the adequacy of our liquidity and capital resources,
and expected growth in business. 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 in this release. Factors that could cause
actual results to differ materially include, but are not limited
to: our ability to develop and manufacture our new product
portfolio, including the W4 CC, W750, W56 and WNext programs; our
ability to attract and retain customers for our existing and new
products; risks associated with obtaining orders and executing upon
such orders; the unavailability, reduction, elimination,
termination or adverse application of government subsidies,
incentives and/or regulations, including the Advanced Clean Fleet
Regulation adopted by the California Air Resource Board; supply
chain disruptions, including constraints on steel, semiconductors
and other material inputs and resulting cost increases impacting
our company, our customers, our suppliers or the industry; our
ability to capitalize on opportunities to deliver products to meet
customer requirements; our limited operations and need to expand
and enhance elements of our production process to fulfill product
orders; our inability to raise additional capital to fund our
operations and business plan; our ability to regain compliance with
the listing requirements of the Nasdaq Capital Market and otherwise
maintain the listing of our securities thereon; our ability to
protect our intellectual property; market acceptance for our
products; our ability to obtain sufficient liquidity from
operations and financing activities to continue as a going concern
and, our ability to control our expenses; potential competition,
including without limitation shifts in technology; volatility in
and deterioration of national and international capital markets and
economic conditions; global and local business conditions; acts of
war (including without limitation the conflicts in Ukraine and
Israel) and/or terrorism; the prices being charged by our
competitors; our inability to retain key members of our management
team; our inability to satisfy our customer warranty claims; the
outcome of any regulatory or legal proceedings; and other risks and
uncertainties and other factors discussed from time to time in our
filings with the Securities and Exchange Commission (“SEC”),
including under the “Risk Factors” section of our annual report on
Form 10-K and our quarterly reports on Form 10-Q, each as filed
with the SEC. Forward-looking statements speak only as of the date
hereof. We expressly disclaim any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in our
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based,
except as required by law.
Media Contact:Aaron Palash / Greg KlassenJoele
Frank, Wilkinson Brimmer Katcher212-355-4449
Investor Relations Contact:Matt Glover and Tom
ColtonGateway
Group949-574-3860WKHS@gateway-grp.com
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