Workhorse Group Successfully Passes FMVSS Tests for Its All-Electric Delivery Vans
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."
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 June 23, 2020