Workhorse Group Expands Dealer Network to Eight Partners Nationwide

CINCINNATI, Nov. 29, 2023 (GLOBE NEWSWIRE) -- 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 Colonial Equipment Company and Freeway Isuzu to its growing network of dealers across the United States. The Company also announced that Fairway EV has recently been confirmed as a Workhorse Certified Dealer. The Certified Dealer Program is an initiative to develop an official network of verified dealers that have passed the protocols necessary to safely repair and maintain the electric components of the Company’s vehicles. The Company’s total dealer count has now grown to eight partners nationwide.

Colonial Equipment Company, located in Maryland, has been servicing the Mid-Atlantic region with transportation solutions since 1982. Over this time, the business has developed strong connections with government agencies and is now partnering with Workhorse to electrify fleets across the country. Colonial Equipment Company will be Workhorse’s GSA AutoChoice provider; the GSA is a service from the U.S. General Services Administration that provides agencies with a reliable way to purchase vehicles.

Freeway Isuzu, a premier Isuzu dealer located in Southern California, and Fairway EV, a female-owned electric vehicle (“EV”) dealer based in Northern California, have added Workhorse’s EVs to its respective portfolio of trucks it sells and services. In total, Workhorse now counts four dealer partners in California, the nation’s leading EV market.

“The expansion of our dealer network is a critical step forward to growing our sales across the country,” said Workhorse CEO Rick Dauch. “Partnering with Colonial Equipment Company will accelerate our ability to electrify government fleets across the nation. The longstanding experience Colonial Equipment Company has working with government agencies made them the right partner for us."

“Additionally, thanks to our recent HVIP approval, we are expanding our sales efforts in the growing California EV market. The addition of Freeway Isuzu as a dealer partner and Fairway EV as a Certified Dealer expands our coverage even further across the state of California. As we increase our production capacity, we look forward to working with our new partners to sell and effectively service our vehicles.”

Colonial Equipment Company President Donald Combs added: “Since 1982 we’ve been committed to providing our clients with the best products from the best manufacturers. With Workhorse now part of our portfolio, we are proud to carry that commitment into the growing EV market. We are excited to offer our customers Workhorse’s market-ready vehicles.”

Freeway Isuzu President John Palmieri added: “As California continues to lead in the transition to zero emission vehicles, we’ve seen an increased demand for electric alternatives from our fleet operators. Workhorse’s W4 CC and W750 each provide us with a compelling new alternative as more fleets transition to EVs.”

About Colonial Equipment Company
Since 1982, Colonial Equipment Company has been providing insightful transportation solutions for all manner of companies, schools, agencies, and organizations. Colonial is in the forefront of innovation in the bus, van, and green technologies for the transportation and transit communities. Whether you need a new 14-passenger Collins Magellan MFSAB bus, a 32-passenger StarCraft Allstar XL, or are looking into converting your fleet to EV, we have the experience, expertise, and access to help you plan and execute the right solution to help you achieve your goals. With our large selection of new and used vehicles, we are ready to respond to whatever needs you may have with outstanding service and insightful recommendations.

About Freeway Isuzu
Freeway Isuzu, located in Corona, CA, near Orange, CA, offers a full lineup of new and used Isuzu vehicles, including cars, trucks, and SUVs for sale. Our knowledgeable Freeway Isuzu staff is dedicated and will work with you to put you behind the wheel of the Isuzu vehicle you want, at an affordable price. Feel free to browse our online inventory, request more information about our vehicles, or set up a test drive with a sales associate. Freeway Isuzu also offers vehicle financing options as well as auto body repair, service, parts, and accessories.

About Fairway EV
Fairway EV is a certified Woman-Owned (WBENC/WOSB) and Minority Business Enterprise that provides zero-emissions solutions to corporate customers needing anything from compact low speed utility vehicles to large class 6 step vans for corporate, fleet, agriculture, delivery, and construction applications. Fairway has a state-of-the-art facility with service center, charging stations, and certified sales and service personnel as well as a team of hardworking and disciplined individuals that are fiercely passionate about the EV industry and ready to serve customers throughout northern California from infrastructure planning to sales and service.

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 STATEMENTS
This 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 document, the words “anticipate,” “expect,” “plan,” “believe,” “seek,” “estimate,” “will,” and “continue” and similar expressions are intended to identify forward-looking statements. These statements involve substantial risks and uncertainties. For a further description of the risks and uncertainties relating to the business of the Company in general, see the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023. 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 Klassen
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Group
949-574-3860
[email protected]

Released November 29, 2023