Workhorse Group Signs Supply Agreement With BMW i
October 13 2016 - 7:46AM
Workhorse Group (NASDAQ:WKHS) announced today that BMW i has signed
a multi-year supply agreement for BMW i3 range extender (REx) units
for the Workhorse E-Gen electric delivery vehicle. The
Workhorse E-Gen delivery vehicles are used by last mile delivery
companies to fulfill their customers’ delivery needs.
BMW’s proven Range Extended solution is powered by
a 647 cc two-cylinder gasoline engine that engages when the battery
level drops to a pre-determined state-of-charge, acting purely as a
generator to produce electricity to extend the range of the
Workhorse E-Gen vehicle.
“The REx solution adds tremendous benefits to our
E-Gen vehicle and to our customers. Signing this supply
agreement with BMW further strengthens our commitment to our
customers’ fuel efficiencies, maintenance savings, and
sustainability initiatives while continuing to eliminate
range-anxiety often found with battery-electric vehicles,”
commented Steve Burns, Founder and CEO of Workhorse Group
Inc. “We are extremely pleased to add BMW to our growing base
of world class suppliers.”
About Workhorse Group Inc.
Workhorse Group Inc. is a U.S.-based original
equipment manufacturer of medium-duty, EPA-approved
battery-electric delivery vehicles and fully integrated
truck-launched, FAA compliant unmanned aerial systems (UAS)
delivery drones. The company is also a developer of a cloud-based,
real-time telematics performance monitoring system that provides
fleet operators ultimate energy and route efficiency.
For additional information visit
www.workhorse.com.
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.
Contact:
Mike Dektas
Workhorse Group Inc.
(513) 266-3590
Media:
Laura Radocaj
Dian Griesel Int’l.
lradocaj@dgicomm.com
212-825-3210
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