Electric Truck-Launched Delivery Drone Offers Competitive Advantages in Drone Delivery Market
CINCINNATI, Feb. 01, 2016 (GLOBE NEWSWIRE) -- Workhorse Group Inc. (NASDAQ:WKHS) was featured in Fast Company and in a news report that aired on the CBS television affiliate in Cincinnati (WKRC-TV Channel 12).
The Fast Company article, titled “Meet Workhorse, the Company That’s Competing with Amazon for Delivery Drones,” highlights the competitive advantages presented by the HorseFly™ Unmanned Aerial System within the package delivery space that is also being pursued by Amazon. In addition to mentioning the Company’s receipt of a Section 333 Exemption from the Federal Aviation Administration (FAA) allowing the further development of HorseFly, the article notes Workhorse’s sale of 125 electric trucks to UPS and its bidding on a contract to deliver trucks to USPS. Further, Workhorse CEO Stephen Burns explains the efficiency of the electric delivery truck-drone model.
To read the Fast Company article, please visit the following link: http://www.fastcompany.com/3052396/meet-workhorse-the-company-thats-competing-with-amazon-for-delivery-drones
The CBS news report shows HorseFly lifting off from the roof of an electric delivery truck and delivering a package in front of a house. In the video segment and an accompanying article, titled “Local company testing delivery by drone,” Workhorse Aerospace president Marty Rucidlo notes that the Company is currently engaged in testing the consistency, safety and reliability of HorseFly, and outlines how a delivery truck driver would initiate drone delivery.
To view the CBS news report and read the accompanying article, please visit the following link: http://local12.com/news/local/local-company-testing-delivery-by-drone
The articles and video at the links above are provided for informational purposes only. Workhorse Group, Inc. is not responsible for the content of the linked articles and video.
HorseFly is an eight-rotor “octocopter,” designed to be used in tandem with Workhorse Group’s EPA-approved electric work trucks. Weighing 15 pounds empty, HorseFly has a payload capacity of 10 pounds; it can achieve a maximum speed of 50 mph and a flight time of 30 minutes. The HorseFly UAS, which is subject to FAA approval for commercial use, is designed to be given a package and a delivery destination by a delivery driver, using a touchscreen interface in the delivery truck. The HorseFly has the ability to launch itself from the roof of the delivery vehicle and ascend to a safe cruising altitude and then navigate to the desired delivery point—say, a house’s front stoop—autonomously, using GPS navigation.
About Workhorse Group Inc.
Workhorse Group Inc. is the parent company of AMP Electric Vehicles Inc. and AMP Trucks Inc. AMP Electric Vehicles manufactures electric drive systems for medium-duty, class 3-6 commercial truck platforms. AMP Trucks Inc., which purchased the assets of Workhorse Custom Chassis LLC from Navistar in March of 2013, can equip its Workhorse chassis with gasoline, propane, or CNG engines in addition to all-electric. Workhorse Group's HorseFly line of Unmanned Aerial Vehicles (UAV) is designed to be the 'last mile' solution in delivery logistics. The HorseFly is differentiated from other UAVs as it is designed to work in tandem with a Workhorse electric truck. HorseFly is designed to deliver packages, loaded on-route by the truck's driver, to remote locations, while the driver continues on the main delivery route. For additional information visit www.workhorse.com.
This press release includes forward-looking statements, which 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 achieve a listing of our securities on a major securities exchange; 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.
Executive Vice President
Workhorse Group Inc.
Dian Griesel Int'l.