Workhorse Group Adds Milea Truck Sales and Leasing, Expanding New York Presence
2024年4月24日 - 9:30PM
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 the addition of
Milea Truck
Sales and Leasing to its growing Certified Dealer
network. With locations in the Bronx and Brooklyn, Milea Truck
Sales and Leasing marks Workhorse’s
second dealer partner
in New York state, 12th dealer nationwide, and its latest
addition to the Certified Dealer Program.
The Certified Dealer Program is an
initiative to develop an official network of verified dealers that
have passed the protocols necessary to safely repair and maintain
the electric components of Workhorse vehicles. Through this
partnership, Milea Truck Sales and Leasing will offer Workhorse's
full innovative lineup of electric commercial vehicles, providing
customers with access to state-of-the-art transportation solutions
that are environmentally conscious and cost-effective.
“Adding a second dealer in New York builds on our commitment to
growing vehicle sales in heavily incentivized states across the
country,” said Workhorse CEO Rick Dauch. “Milea Truck locations in
New York City allow us to easily reach thousands of fleet
operators. With our W4 CC, W56 and W750 vehicles all available now,
we are well-positioned to assist businesses across the tri-state
area in carrying out their last-mile delivery needs, while
achieving their zero-emission objectives.”
Barry Milea, President of Milea Truck Sales and Leasing, added:
“Partnering with Workhorse marks a significant milestone for Milea
Truck. As a family-owned business deeply rooted in our community,
we're excited to add our first zero-emission commercial electric
vehicles to our portfolio of work trucks. With the strong
incentives available to fleet operators throughout the state, we
are confident that there will be healthy demand for Workhorse’s
best-in-class vehicles.”
Established in 1980 as a family-owned business in the Bronx,
Milea Truck Sales and Leasing has become one of the largest
multiline trucking corporations in New York City, serving the
entire tri-state area.
Workhorse has established a comprehensive training program that
provides dealers with both hands-on and online training, including
technical sales training. The program enables dealers to safely
assist customers with vehicle maintenance and provide strategies
for vehicle deployment into their fleets. To ensure high quality
vehicle maintenance, Workhorse certified dealers have also made
investments in EV charging infrastructure, tooling, and building
out spare parts inventory.
About Milea Truck Sales and LeasingMilea Truck
is a premier commercial truck sales, leasing, and modification
company serving New York City and the tri-state area. Established
in 1980, Milea Truck Sales and Leasing has built a reputation for
delivering exceptional service and top-quality vehicles to
businesses across various industries. With locations in the Bronx,
Queens, Brooklyn, and a forthcoming establishment in Westchester,
Milea Truck is committed to meeting the diverse needs of its
customers with integrity and excellence. For more information,
visit mileatruck.com.
About Workhorse GroupWorkhorse 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.
Forward-Looking Statements The discussions in
this press release contain 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 Report, 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,
the likelihood of us obtaining additional financing in the
immediate future and the expected terms of such financing, 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 Report. 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 or adverse
application of government subsidies, incentives and regulations;
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 general inability to raise additional
capital to fund our operations and business plan; our ability to
obtain financing to meet our immediate liquidity needs and the
potential costs, dilution and restrictions imposed by any such
financing; our ability to regain compliance with the listing
requirements of the Nasdaq Capital Market and otherwise maintain
the listing of our securities thereon and the impact of any steps
we take to regain such compliance, such as a reverse split of our
common stock, on our operations, stock price and future access to
liquidity; 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; the
effectiveness of our cost control measures and impact such measures
could have on our operations; 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 quarterly reports
on Forms 10-K and 10-Q 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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