Workhorse to Exhibit W-15 Electric Pickup Truck at Electric Utilities Fleet Managers Conference June 4-7
First OEM-built electric pickup will participate in drive-through demonstration
CINCINNATI, June 2, 2017 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS), an American technology company focused on providing sustainable and cost-effective solutions to the commercial transportation sector, today announced that it will exhibit the new W-15 range-extended electric pickup truck at the 2017 Electric Utilities Fleet Managers Conference (EUFMC) in Williamsburg, Va., June 4-7.
The conference is an annual gathering of many of the top fleet managers in the country, and has invited over 100 different manufacturers and service providers to exhibit their products. Other industry leaders joining Workhouse at EUFMC are Ford Motor Company, GM Chevrolet Commercial Vehicles, Penske Truck Leasing Co. and Peterbilt Motors Company. In addition to exhibiting at the conference, Workhorse will drive the W-15 as part of the event's drive-through demonstration.
"We are excited to be exhibiting what we believe to be the first electric pickup truck made by an OEM," said Steve Burns, CEO of Workhorse. "Fleet managers invest in their fleets not only with purchasing, but in their fuel and maintenance costs. We engineered and built the W-15 with feedback from fleet managers, and believe it can revolutionize their effectiveness and total cost of ownership by reducing both fuel and maintenance costs."
The Workhorse W-15 light duty platform design is an extension of the E-Gen electric technology used in Workhorse medium-duty delivery trucks, and is believed to be the first plug-in range-extended electric pickup built from the ground up by an original equipment manufacturer (OEM) in America. With an expected 80-mile all-electric range using Panasonic 18650 Li-ion batteries, the battery pack will cover the vast majority of miles driven in a day by fleet operators. If needed, the gasoline generator will initiate after battery power has been depleted, allowing additional range to complete the day's tasks.
The W-15 will also feature the ability for utility fleets to power equipment directly from the vehicle's batteries, allowing a crew to complete their duties that require electricity without an external power source. With the goal of being the safest pickup truck in America for fleet operators, the W-15's safety features include an extra large crumple zone and lower center of gravity while still providing ground clearance. The W-15 also offers crash mitigation technologies, including automatic breaking and lane centering. Once production commences, the W-15 is anticipated to have a $52,500 MSRP.
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. For additional information visit www.workhorse.com.
Fleet managers who would like additional information are welcome to contact Jeff Esfeld at j[email protected] or 206-228-5400.
Forward Looking Statement
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.
Released June 2, 2017