AMP Electric Vehicles was established in 2007 as a developmental-stage vehicle electrification company. We first experimented with adding battery-electric power to two-seat roadsters.
In 2009/2010, Progressive Insurance sponsored a rigorous nation-wide competition for clean, “production-capable” vehicles. Our 100% electric GM Sky was the only mass-produced vehicle in the competition. All other vehicles were primarily prototypes or concept vehicles not suitable for driving on public roads. We were one of eight finalists in the Side-by-Side seating category. Our Sky achieved four times the fuel efficiency of an internal combustion equivalent with zero emissions (96 MPGe vs.19/24 city/highway for ICE version).
We followed the electrification of the Sky Roadster with the design and implementation of systems capable of powering larger vehicles. This led to the creation of electrification packages for the Chevrolet Equinox SUV, the Jeep Grand Cherokee and the Mercedes Benz ML350. These development activities resulted in the successful execution of the concept for SUVs.
AMP Electric Vehicles went public in 2010 trading on the OTC market under the AMPD symbol. When the economic benefits of conversion became less certain, we pivoted away from passenger vehicles and began to focus on electrifying commercial vehicles. This led to a development agreement with Navistar, a major U.S. truck OEM. Under the development agreement, the initial project was to re-power a 1,000 cubic foot delivery van.
The first vehicle was delivered to them in August of 2012 and successfully passed Navistar’s requirements and performance test. Navistar’s top management changed at precisely the same time the project vehicle passed its performance test and Navistar tabled the electrification project. They did however, introduce us to their client and AMP began to work directly with the end-user. As part of the end-user’s requirement, the battery-electric test truck successfully passed a 4,000-mile durability test at TRC, Inc.’s automotive test facility in East Liberty, OH.
AMP acquired the Workhorse brand and the Workhorse Custom Chassis assembly plant in Union City, IN in March of 2015. The asset acquisition made the company an OEM and enables the company to manufacture new, medium-duty truck chassis in the 14,500 to 23,500 GVW class.
In addition to the plant assets, our exclusive arrangement with UpTime Parts, Inc. for logistical and spare parts support and our 400+ network of dealers provides AMP with unequaled nationwide support for our vehicles.
In March of 2015, AMP formally changed its name to Workhorse Group Incorporated (NASDAQ: WKHS).
The Workhorse Group designs and produces battery-electric power trains in its 50,000 sq. ft. facility in Loveland, OH for its new Workhorse chassis. Workhorse’s approach to building its battery electric power trains uses proven, automotive-grade, mass-produced parts coupled with its custom designed, proprietary control software.
Workhorse Group Inc. is an Original Equipment Manufacturer (OEM) of Class 3-6 Workhorse brand medium-duty truck chassis. Its 200,000 sq. ft. assembly plant enables it to build the tried and true W62 chassis and the new, narrower-track W88 chassis at price points and performance specifications sure to be attractive to fleet purchasers.
Mr. Hughes is a senior-level executive with more than 20 years experience including direct business relationships in the automotive, advertising, and technology segments. Prior to joining Workhorse/AMP Electric Vehicles, Duane served as Chief Operating Officer for Cumulus Interactive Technologies Group. As COO, Duane was responsible for managing the company’s day-to-day sales and operations. He was responsible for all operations of the business unit. Prior to Cumulus ITG, Duane spent nearly fifteen years in senior management positions with Gannett Co., Inc., including his duties as Vice President of Sales and Operations for Gannett Media Technologies International.
Mr. Rodriguez has over 25 years’ experience in information technology business solutions including manufacturing cost systems and business intelligence applications in the automotive and food industries most recently at Genuine Parts Company, a distributor of automotive aftermarket parts and at Federal Mogul, an OEM parts manufacturer. Mr. Rodriguez has held multiple executive positions including CFO, VP of Finance, Director of Finance, Controller and Audit Manager at corporate headquarters and subsidiary levels. Mr. Rodriguez started his career in public accounting with Arthur Andersen.
Mr. Gaitan is a finance executive with over 30 years of experience working for manufacturing companies in the automotive, building products and consumer products space. Paul has led business integrations, developed strategy, and implemented advanced product costing approaches. He has held roles such as Production Manager, Controller, VP of Finance and CFO driving change by addressing both systems and personnel. Paul works collaboratively to design and deliver insightful information that leads to high quality decisions by the executive team. He earned a bachelor of science degree in finance from the University of Southern California and an MBA from the Stanford Graduate School of Business.
Mr. Chess spent 37 years at General Motors. In his most recent assignment, Mr. Chess had global product responsibility for all Crossover Vehicles. Prior to that, he was responsible for General Motors Commercial Vehicles, Class 3 through 8 including the mid and full size vans and the medium-duty product line, Chevrolet Kodiak and GMC Top Kick. Prior to 16 years in various product development assignments, he spent 21 years in manufacturing, starting his career at Indianapolis Metal Fabricating in 1975. His last assignment at the plant level was Superintendent of Manufacturing Engineering where he lead the engineering for body-in-whites. He transferred to Pontiac Michigan in 1992 to lead the consolidation of the Metal Fabrication plant manufacturing engineering activities. Before moving onto product development, Ray was responsible for all die, fabrication and body shop engineering for the General Motors Truck Group.
As chief financial officer (CFO) of Assured Neace Lukens, Mr. Budde is primarily responsible for financial planning, reporting and analyzing Assured Neace Lukens financial information. In addition to being responsible for the finance and accounting functions, Gerald also oversees the human resources function and the integration of acquisitions. Gerald has more than 30 years of experience in accounting and finance, and has served as Assured Neace Lukens CFO since 2003. Prior to his current position, Gerald worked for UNOVA Industrial Automation Systems (IAS), who acquired the Machine Tool Group of Cincinnati Milacron, Inc. in 1998, leaving his final role there as vice president of finance for the machine tool group. He has been an inactive Certified Public Accountant (CPA) since he left public accounting in 1994 after almost eleven years with Ernst & Young, a multi-national professional services firm, leaving his final role there as an Audit Senior Manager. Gerald is currently a member of the Board of Trustees and Finance Committee of Mt. Notre Dame high school and is also a member of the Finance Commission of St. Margaret of York parish and school. Gerald earned his bachelor’s degree in accounting from the University of Dayton in 1983.
Benjamin “Ben” Samuels is the Co-President of Victory Packaging, a North American packaging distributor wholly owned by KapStone Paper and Packaging. He joined Victory Packaging in 1995 as regional operating manager of Texas. In 1997, Samuels began his role as Vice Chairman and leader of the national accounts group, real estate, finance and legal departments, achieving a period of unprecedented growth in sales and revenues. After the retirement of his father in May 2007, Ben was named CEO and leader of an executive team that currently manages more than 1,500 employees. In 2015, Victory Packaging was purchased by KapStone. Samuels is an active member in the community, where he served as the Chairman of the Houston Food Bank and is the Chair of the Leo Baeck Education Center Foundation. He was also the President of the Houston Chapter of the American Jewish Committee before joining their National Board of Governors. In addition, Ben currently serves on the board of Children at Risk, Brighter Bites, Move for Hunger, and Congregation Shma Koleinu. He also served on the boards of and held leadership positions with J-Street, American Leadership Forum, Serve Houston, Holocaust Museum Houston, Jewish Federation of Greater Houston, and Jewish Family Service. Samuels received a bachelor’s degree in American studies and economics from Amherst College in Massachusetts, as well as an MBA from the Harvard Graduate School of Business Administration. He and his wife, Marci Rosenberg, reside in Houston and have a son, Ethan, and a daughter, Mimi.
Mr. DeMott, age 49, has more than 25 years experience in the investment community, having worked as an analyst and portfolio manager at leading brokerage firms and investment management firms. He has also served on the boards of several companies. He is a long-time operator and investor in the media, sports and entertainment industries. He is the co-founder of Raptor Ventures I LP, where he has been a General Partner since February 2011. In addition, Mr. DeMott is a member of the Board of Directors of Fan Manager, SecurityPoint Media, Signal360 and Ticket Evolution.
He also serves as founder and managing partner for Hamerle Investments, a family investment company. Prior to co-founding Raptor Ventures, Mr. DeMott served on the Board of Directors of Pandora Media, Inc. from 2006 through 2011. Earlier, he served as senior analyst at Knighthead Capital Management, analyst at King Street Capital Management, portfolio manager at Bourgeon Capital Management and managing member and founder at Gothic Capital Management. During this 16-year period, Mr. DeMott focused on finding, fostering and investing in disruptive technology companies. He previously spent nine years at First Boston (now Credit Suisse), where he was a director in the equity research division specializing in radio, TV, outdoor advertising and cell towers. He earned a bachelor of arts in economics from Princeton University in 1988 and a MBA in finance from New York University in 1991.