Workhorse Group Receives First Fleet Order for W56 Step Van
20 Dezembro 2023 - 10:30AM
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 received its first
fleet order for the W56 step van from Mission Linen Supply, a
California based, privately-held company that is a leading provider
of products and services to hospitality, medical and industrial
businesses. The initial 15-vehicle order is expected to be
delivered in 2024.
The W56 provides a unique blend of high reliability, quality and
serviceability. The zero emission delivery work van is designed to
meet the challenging demands of the commercial vehicle industry,
supporting benchmark payload capacity of up to approximately 10,000
pounds and with a range of up to 150 miles. The W56 step van also
offers a large 1,000+ cubic foot cargo box with lowered step-in and
wide cabin door for easier entry and exit. Built with the delivery
driver in mind, the cabin has been ergonomically designed while
still providing safety and comfort during even the longest
shifts.
“This purchase order marks an important milestone for Workhorse
as we commercialize our purpose-built Class 5/6 vehicle,” said
Workhorse CEO Rick Dauch. “Following the start of W56 step van
production in September, we were able to deliver a fully outfitted
demo vehicle to Mission Linen Supply in just six weeks. The W56
performed well in field tests and their team quickly saw that we
have engineered an incredibly capable and reliable delivery van. We
look forward to working with both our dealer partner, Kingsburg
Truck Center, and the team at Mission Linen Supply as they
electrify their fleet.”
Evelyn Scott-Phillips, Senior Manager for Fleet and Safety,
Corporate Services at Mission Linen Supply added: “The W56’s
advanced technology and features made it the right zero emission
vehicle for us to add to our fleet. From the start of our demo, we
received superb support from the Workhorse team, and we were
impressed by the vehicle’s performance in field tests. We look
forward to receiving the vehicles in the new year.”
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.
About Mission Linen SupplyMission Linen Supply
is a family-owned, privately held company and a leading provider of
products and services to hospitality, healthcare and industrial
businesses. Founded in 1930 by George “Ben” Page, the company has
grown from a one-man operation into a leading player in the linen
rental and uniform business. With nearly 85 years of industry
knowledge and an experienced workforce, Mission is widely
recognized for its ability to understand, anticipate and meet its
customers’ needs while providing environmentally friendly goods and
services. Headquartered in Santa Barbara, California, the company
employs more than 2,500 people in five western states.
About Kingsburg Truck CenterKingsburg Truck
Center is Central San Joaquin Valley’s largest work truck
dealership and takes great pride in providing customers with the
best quality trucks that are dependable for any job. The Center
also specializes in building, fabricating, and installing various
applications for specific industry needs, making it a One-Stop Shop
for Everything Work Truck. Kingsburg Truck Center has provided
customers with reliable work trucks since 1991.
FORWARD LOOKING STATEMENTSThis 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
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 our 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 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 programs; our
ability to attract and retain customers for our existing and new
products; risks associated with obtaining orders and executing upon
such orders; the unavailability, reduction, elimination,
termination or adverse application of government subsidies,
incentives and/or regulations, including the Advanced Clean Fleet
Regulation adopted by the California Air Resource Board; 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 ability to regain compliance with
the listing requirements of the Nasdaq Capital Market and otherwise
maintain the listing of our securities thereon; our ability to
protect our intellectual property; market acceptance for our
products; our ability to obtain sufficient liquidity from
operations and financing activities to continue as a going concern
and, 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 conflicts in Ukraine and
Israel) 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 annual report on
Form 10-K and our quarterly reports on Form 10-Q, each as filed
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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