Workhorse Electric Delivery Vans Achieve 40-75MPGe In Real-World Pilot Testing Programs
CINCINNATI, July 30, 2018 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS), an American technology company focused on providing sustainable and cost-effective electric mobility solutions to the transportation sector, today provided an update on milestones achieved during its ongoing real-world pilot testing of its N-GEN all-electric vehicles:
- The N-GEN has demonstrated a fuel efficiency, as expressed in miles per gallon equivalent (MPGe), that averages 40MPGe for its 450 cubic foot electric van, and 75MPGe for its 200 cubic foot electric van, representing up to a 500% improvement versus conventional gas delivery vans.
- More than 100,000 packages delivered by Workhorse-employed drivers and delivery associates, offering invaluable insights to optimize the N-GEN production vehicle design for last-mile delivery workers.
- Opportunities to further integrate Workhorse's HorseFly package delivery system into the N-GEN to maximize driver efficiency, minimize last mile per package delivery expense, and provide an exceptional consumer experience.
"As we progress toward the full production launch of our N-GEN vehicle platform, we are encouraged that these real-life pilots, alongside our durability testing, are yielding the operational, driver, and reliability performance that was our design intent," said Workhorse CEO Steve Burns. "With our ability to offer fleets N-GEN all-electric vehicles at price parity with conventional gas vehicles, large and small fleet operators have the potential to significantly reduce annual operational expenses, as well as realize the driver and sustainability benefits of moving to all-electric."
Designed from the ground up by American original equipment manufacturer Workhorse, the cargo vans were built to be the safest, most efficient last-mile delivery and work truck system available. With ultra-low floors and a high roof design, they are built to improve worker efficiency and reduce physical stress on the knees and back, while maximizing cargo space in a small footprint. You can view a clip of the N-GEN zero-emission van in action here: https://youtu.be/ninQA5M-Xq4.
The N-GEN vans feature fast charging capabilities and achieve 100 miles all electric range. Standard is all-wheel drive and built-in Workhorse telematics system, which tracks all parameters in real time to optimize performance and efficiency. Design options will include collision avoidance system, automatic braking, lane centering warning and optional patented HorseFly unmanned package delivery drone.
About Workhorse Group Inc.
Workhorse is a technology company focused on providing electric mobility solutions to the 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.
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 July 30, 2018