United States Postal Service Awards NGDV Prototype Contract to VT Hackney - Workhorse Group Team
VT Hackney and Workhorse Group Team Enter Prototype and Testing Phase of USPS Next Generation Delivery Vehicle (NGDV) Program
CINCINNATI, Sept. 22, 2016 (GLOBE NEWSWIRE) -- An exclusive partnership of Workhorse Group Inc. (NASDAQ:WKHS) and VT Hackney has been selected as one of six manufacturers awarded a prototype contract by the United States Postal Service (USPS) to build and deliver prototype vehicles for the Next Generation Delivery Vehicle (NGDV) Program.
VT Hackney will build the body of the prototype vehicles while Workhorse Group will provide the chassis and powertrain. The VT Hackney/Workhorse prototypes will be delivered as both two-wheel drive and four-wheel drive vehicles.
The postal service operates a fleet of over 200,000 vehicles in all areas of the United States and its territories. Approximately 160,000 of these vehicles are right hand drive, light-duty carrier route vehicles purchased between 1987 and 2001. The Postal Service intends to replace its right hand drive vehicle fleet in the coming years.
VT Hackney has been in the vocational body business since 1946 with the Hackney and Kidron brands. The company has built a solid reputation on high quality products designed to increase efficiency by improving body design. Workhorse Group is a last-mile delivery technology company with experience in designing and building vehicles with advanced telematics systems.
"The USPS wants a vehicle to operate efficiently and economically for 20 years," said Steve Burns , Workhorse Group CEO. "The Hackney/Workhorse team has designed a safe and ergonomic vehicle with a drivetrain that is built to last and will deliver efficiencies of operation."
"We believe the prototype vehicles we are building are truly representative of the next generation of delivery vehicles," continued Burns. "We salute the USPS for its drive to capture innovation and leading technologies in its vehicle testing process. These types of vehicles definitely move things into the future."
About Workhorse Group Inc.
Workhorse Group, Inc. is a U.S.-based original equipment manufacturer of medium-duty vehicles. The company is also a developer of a cloud-based, real-time telematics performance monitoring system that provides fleet operators energy and route efficiency. For additional information visit www.workhorse.com
About VT Hackney
VT Hackney, a company of VT Systems, is the leading manufacturer in North America for specialized truck bodies and trailers that services multi-stop food and beverage service distributors and municipal emergency rescue departments. With its two leading brands, Hackney and Kidron, VT Hackney specializes in beverage truck bodies and trailers, emergency rescue bodies and trailers, contractor services truck bodies and multi-temperature refrigerated truck bodies and trailers. Please visit www.vthackney.com.
Forward Looking Statement
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 "feel," "believes," expects," "estimates," "projects," "intends," "should," "is to be," 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
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