Workhorse Group Expands California Presence, Adding Western Truck Exchange as its Latest Certified Dealer
02 Agosto 2023 - 9:30AM
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 engaged
Western
Truck Exchange (“WTE”) as its latest certified electric
vehicle (“EV”) dealer
, expanding its existing
California presence to the Los Angeles metropolitan area.
Announced earlier this year, Workhorse’s
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. Workhorse has established a comprehensive
training program that provides dealers with both hands-on and
online training, including technical sales training. The program
will enable dealers to safely assist customers with vehicle
maintenance in addition to providing strategies for vehicle
deployment into their fleets. To ensure high quality vehicle
maintenance, Workhorse certified dealers have also made investments
in EV charging infrastructure, tooling, and building out spare
parts inventory.
WTE, a fourth-generation, family-owned business, is partnering
with Workhorse to sell, service, and upfit its vehicles, including
the W4 CC and W750 models. Located in Los Angeles, WTE occupies a
significant end market opportunity in one of the most EV-friendly
states in the U.S. Through 100+ years of experience, WTE has become
a trusted partner to customers looking for trucks, repairs, and
more.
“We are continuing to build a strong foundation for both our
dealers and end customers through the expansion of our Certified
Dealer Program,” said Workhorse CEO Rick Dauch. “Partnering with
WTE allows us to grow our dealer network through a trusted operator
in the critical California end market, which has some of the most
favorable government incentives in the country. As we increase our
manufacturing throughput in the coming months, we look forward to
bringing more W4 CC and W750 models off the line for WTE to market
and sell to its expansive customer base.”
Western Truck Exchange President Dan Holtzman added: “As fleet
operators across California shift to electric alternatives, we
appreciate the opportunity to partner with Workhorse at the
forefront of the EV transition. Workhorse trucks provide a
compelling zero emission option for commercial vehicle operators,
and we look forward to offering these vehicles to new purchasers as
well as our longstanding customers who have relied on us to provide
best-in-class vehicles and service for three generations.”
About Western Truck ExchangeEstablished in
1922, Western Truck Exchange is a fourth-generation family-owned
and operated dealer in Los Angeles, CA. WTE focuses on truck sales,
truck parts, truck repairs, truck rentals, and truck bodies. With
over 100 trucks for sale on hand at any given time, more than 20
skilled truck technicians, and over $150 million truck parts in
inventory, doing business with Western Truck Exchange is quick,
easy, and professional every time. WTE is a factory direct OEM
distributor for International®, GMC, and Mitsubishi Fuso Trucks as
well as Caterpillar Engines, Cummins Engines, and Allison Automatic
Transmissions. For additional information visit
WestTruck.com.
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 StatementsThe discussions in
this press release contain 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 press release, the words “anticipate,” “expect,” “plan,”
“believe,” “seek,” “estimate” and similar expressions are intended
to identify forward-looking statements. These are statements that
relate to future periods and include, but are not limited to,
statements about the features, benefits and performance of our
products, our ability to introduce new product offerings and
increase revenue from existing products, expected expenses
including those related to selling and marketing, product
development and general and administrative, our beliefs regarding
the health and growth of the market for our products, anticipated
increase in our customer base, expansion of our products
functionalities, expected revenue levels and sources of revenue,
expected impact, if any, of legal proceedings, the adequacy of
liquidity and capital resources, and expected growth in business.
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 in this
press release. Factors that could cause actual results to differ
materially include, but are not limited to: our ability to develop
and manufacture our new product portfolio, including the W4 CC,
W750, W56 and WNext surface vehicle platforms and the WA4-100
(Horsefly) and WA4-200 (HALO) small Uncrewed Aerial Systems our
ability to attract and retain customers for our existing and new
products; risks associated with obtaining orders and executing upon
such orders; supply chain disruptions, including constraints on
steel, semiconductors and other material inputs and resulting cost
increases impacting our company, our customers, our suppliers or
the industry; our ability to capitalize on opportunities to deliver
products to meet customer requirements; our limited operations and
need to expand and enhance elements of our production process to
fulfill product orders; 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; the
ability to protect our intellectual property; market acceptance for
our products; our ability to control our expenses; potential
competition, including without limitation shifts in technology;
volatility in and deterioration of national and international
capital markets and economic conditions; global and local business
conditions; acts of war (including without limitation the conflict
in Ukraine) and/or terrorism; the prices being charged by our
competitors; our inability to retain key members of our management
team; our inability to satisfy our customer warranty claims; the
outcome of any regulatory or legal proceedings; and other risks and
uncertainties and other factors discussed from time to time in our
filings with the Securities and Exchange Commission ("SEC"),
including under the “Risk Factors” section of our filings with the
SEC. 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 KlassenJoele
Frank, Wilkinson Brimmer Katcher212-355-4449
Investor Relations Contact:Matt Glover and Tom
ColtonGateway
Group949-574-3860WKHS@gateway-grp.com
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