CINCINNATI, June 23, 2020 /PRNewswire/ -- Workhorse Group
Inc. (Nasdaq: WKHS) ("Workhorse" or "the
Company"), an American technology company focused on providing
sustainable and cost-effective electric vehicles to the last mile
delivery sector, announced today that it has successfully completed
Federal Motor Vehicle Safety Standards (FMVSS) testing for its
C650 and C1000 all-electric delivery
vans.
FMVSS testing for both the C650 and C1000
vans had been delayed by complications related to the COVID-19
pandemic. With facilities and supporting manpower restored, the
testing was officially completed this week.
The overall FMVSS testing process consists of a multitude of
high-level, significant reviews and required approvals for vehicle
safety, including seat belt efficacy and additional seating safety
and braking system standards, among other areas.
"The successful completion of our FMVSS testing confirms that
the design, construction, performance, and durability of our
all-electric 650 and 1000 cubic foot C-Series delivery vans meet
federal requirements, making Workhorse the only American
all-electric OEM designing and manufacturing last mile delivery
vehicles to complete this testing," said Company CEO Duane Hughes. "With this late-stage milestone
certification now behind us, we remain well-positioned to execute
on our production timeline for the remainder of the year."
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.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing 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.
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
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SOURCE Workhorse Group Inc.