Workhorse Group Unveils W-15 Electric Pickup Truck at ACT Expo

CINCINNATI, May 3, 2017 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS), an American technology company and original equipment manufacturer (OEM) of battery-electric, range-extended vehicles for the commercial transportation sector, last night unveiled the first electric pickup truck designed for the fleet market.

The first drivable prototype of the W-15 plug-in, battery-electric range-extended pickup truck debuted at the Advanced Clean Transportation Exhibition (ACT Expo) in Long Beach, California. W-15 production vehicles are expected in late 2018.

Workhorse Group has secured more than 4,650 letter of intent pre-orders for the W-15 electric pickup from more than 18 commercial fleets, which include W-15 Leadership Council members Ryder System, Inc. and Duke Energy. Fleets can learn more about the W-15 and pre-order the truck at Workhorse.com.

"It's here. It's ready. A new era in fleet vehicles begins," said Steve Burns, CEO of Workhorse. "Our team designed the W-15 not only for exceptional performance, but also the lowest total cost of ownership, the lowest emissions profile, and with state of the art autonomous controls and telematics," Burns said. "We have leveraged the platform technologies used in our commercially available e-GEN and W-100 medium-duty vehicles as well as our partnerships with Panasonic and BMW to create the best light-duty transportation solution for the commercial sector," he said.

The performance specifications of the Workhorse W-15 pickup include direct all-wheel drive and two electric traction motors that generate 460 horsepower, with acceleration from 0 to 60 MPH in up to 5.5 seconds. The W-15 also has a fuel-economy rating of 75 miles per gallon equivalent (MPGe), with a range of 80 miles all-electric, and unlimited range when using the on-board BMW range extender.

"We set out to build the safest and most efficient pickup truck on the road, and it just happens to be electric," said Burns. "We formed the W-15 fleet Leadership Council and have listened to fleet engineers, managers and drivers in order to deliver the best pickup truck for commercial use, from cost of ownership to functionality to performance and, above all else, safety and dependability for the driver."

Notable standard features on the W-15 include a 7.2 kW power export to plug in and operate power tools without running the vehicle and advanced safety features such as dual airbags, collision avoidance/automatic braking and lane-departure warning. The W-15 composite body design has aerodynamic body lines, a strong side profile and provides added strength and safety with less overall mass. The W-15 crew cab includes seating for five passengers, with two front bucket seats and a rear bench, and the driver digital touchscreen controls include the integrated Workhorse Metron telematics system to maximize operator efficiency.

About Workhorse Group Inc.

Workhorse is a technology company focused on providing sustainable and cost-effective solutions to the commercial transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. We also develop 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.

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 maintain our listing of our securities on the Nasdaq Capital Market; 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.

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SOURCE Workhorse Group Inc.