Workhorse Joins Small UAV Coalition as an Associate Member
CINCINNATI, May 7, 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, has joined the Small UAV Coalition as an Associate member.
The Small UAV Coalition is a partnership whose Board members include Amazon Air, Wing, Intel, PrecisionHawk, and Verizon and other leading consumer and technology companies who believe that U.S. leadership in the research, development, production, and application of unmanned aerial systems (UAS) will benefit consumers in all walks of life. According to a Department of Transportation economic report regarding unmanned aerial systems, there are hundreds of potential use cases for the technology. As a group, the Small UAV Coalition supports and advocates for a range of law and policy changes that will not only embrace, but encourage, the growth of the UAV industry.
Workhorse CEO Duane Hughes stated, "As a member of the Small UAV Coalition, it is our honor and privilege to work side by side with our country's leading technology companies. The Small UAV Coalition's leadership in the research, development, production and application of unmanned aerial systems offers true insight into our future."
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.
Creative Storm PR
Workhorse Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor Relations
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SOURCE Workhorse Group Inc.
Released May 7, 2020