Workhorse and GreenPower Sign Supply Agreement for Delivery of 1,500 GreenPower EV Star Cab and Chassis for Workhorse W750 Step Vans
2022年3月1日 - 10:00PM
Workhorse Group Inc. (NASDAQ: WKHS)(“Workhorse”), an American
technology company focused on providing sustainable and
cost-effective electric vehicles to the last-mile delivery sector,
and GreenPower Motor Company Inc. (NASDAQ: GP, TSXV: GPV)
(“GreenPower”), a leading manufacturer and distributor of
zero-emission electric-powered vehicles serving the cargo and
delivery, shuttle, transit and school bus markets, today announced
the signing of a multi-year supply agreement to facilitate the
manufacturing and delivery of medium-duty Class 4 step vans into
the North American market.
Under the terms of the agreement, the companies
have confirmed a 21-month schedule during which GreenPower will
deliver 1,500 EV Star cab and chassis to Workhorse starting in July
2022. The chassis are to be used in the production of Workhorse’s
new Class 4 W750 step van line, which is slated to enter production
in Q3 2022. Workhorse will complete the manufacturing process and
deliver finished step vans to its customers in the United States
and Canada. The agreement includes deposits based on delivery
thresholds and also contains a renewal option.
Workhorse will have exclusive rights in the U.S.
and Canada to sell Class 4 step vans based on the
GreenPower-supplied base vehicle. The finished Class 4 step vans
will be available under the Workhorse brand with Workhorse
after-sales and support service.
The W750 will feature up to 150 miles of
all-electric range, with a payload capacity of 5,000 lbs., as well
as standard 60kW DC fast-charging and optional 60 kW
wireless-charging capabilities.
“Workhorse is delivering on our commitment to
pioneer the transition to zero-emission commercial vehicles by
developing and building safe, reliable and versatile electric
commercial delivery vehicles,” said Workhorse CEO Rick Dauch. “Our
partnership with GreenPower is a crucial step in a multi-pronged
effort to redefine our product portfolio. The Class 4 W750,
alongside our legacy Class 3 C-1000 and W56 platform launching in
2023, will enable Workhorse to address the entire Class 3-6
commercial vehicle market. I am very pleased to have reached this
important agreement, and we look forward to working closely with
the GreenPower team to make the first truck deliveries from our
Union City, Indiana plant later this year.”
“We are honored to partner with Workhorse to
bring their Class 4 step van to market leveraging GreenPower’s EV
Star cab and chassis platform,” said GreenPower CEO Fraser
Atkinson. “Our technically advanced and proven EV Star line of
vehicles that will underpin the new Workhorse vehicle also support
our all-electric medium-duty paratransit, micro-transit, executive
shuttle, vanpool, and cargo delivery vehicles. Given our depth of
experience we are confident in our ability to meet and exceed
Workhorse customer requirements and expectations.”
GreenPower President Brendan Riley added, “We
have been collaborating with Workhorse on this project for over six
months and have already delivered several EV Star cab and chassis
base vehicles to Workhorse. We look forward to ramping our
activities on the co-development and integration of our vehicle
with the Workhorse W750. We have been working with our partners to
ensure the production and timely delivery of the vehicles pursuant
to the initial delivery schedule as well as to support additional
growth opportunities.”
About Workhorse GroupWorkhorse is a technology
company focused on providing drone-integrated electric vehicles to
the last-mile delivery sector. As an American original equipment
manufacturer, we are focused on designing and building high
performance, battery-electric vehicles including trucks and
aircraft. 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.
Workhorse Media
Contact:Aaron Palash / Tim Lynch Joele Frank, Wilkinson
Brimmer Katcher212-355-4449 |
Workhorse Investor
Relations Contact:Matt Glover and Tom ColtonGateway
Investor Relations949-574-3860WKHS@gatewayir.com |
Forward-Looking StatementsThis 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 ability to successfully
develop and manufacture our new product portfolio, including the
recently announced W750, W56 and W34 platforms; our ability to
attract and retain customers for our existing and new products;
risks associated with obtaining orders and executing upon such
orders; supply chain disruptions, including constraints on steel
and semiconductors and resulting increases in costs impacting our
company, our customers, our suppliers or the industry; our ability
to implement modifications to vehicles to achieve compliance with
FMVSS and to meet customer demands with respect to the C-1000s; the
results of our ongoing review of the Company’s business and
go-forward operating and commercial plans; our ability to
capitalize on opportunities to deliver products to meet customer
requirements; our limited operations and need to expand to fulfill
product orders; the ability to protect our intellectual property;
negative impacts stemming from the continuing COVID-19 pandemic;
market acceptance of our products; our ability to control our
expenses; potential competition, including shifts in technology;
global and local business conditions; 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
satisfy covenants in our financing agreements; our inability to
maintain our listing of our securities on the Nasdaq Capital
Market; our inability to satisfy our customer warranty claims; the
outcome of any regulatory proceedings; 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.
About GreenPower Motor CompanyGreenPower
designs, builds and distributes a full suite of high-floor and
low-floor all-electric medium and heavy-duty vehicles, including
transit buses, school buses, shuttles, cargo van and a cab and
chassis. GreenPower employs a clean-sheet design to manufacture
all-electric vehicles that are purpose built to be battery powered
with zero emissions while integrating global suppliers for key
components. This OEM platform allows GreenPower to meet the
specifications of various operators while providing standard parts
for ease of maintenance and accessibility for warranty
requirements. GreenPower was founded in Vancouver, Canada with
primary operational facilities in southern California. Listed on
the Toronto exchange since November 2015, GreenPower completed its
U.S. IPO and NASDAQ listing in August 2020. For further information
go to www.greenpowermotor.com.
Company
Contact: |
Company
Contact: |
Media / PR
Contact: |
Fraser Atkinson |
Brendan Riley |
Susan Donahue |
CEO |
President |
Skyya PR for GreenPower |
604-220-8048 |
510-910-3377 |
646-454-9378 |
|
|
Susan.Donahue@skyya.com |
Forward-Looking StatementsThis document
contains forward-looking statements relating to, among other
things, GreenPower’s business and operations and the environment in
which it operates, which are based on GreenPower’s operations,
estimates, forecasts and projections. Forward-looking statements
are not based on historical facts, but rather on current
expectations and projections about future events, and are therefore
subject to risks and uncertainties which could cause actual results
to differ materially from the future results expressed or implied
by the forward-looking statements. These statements generally can
be identified by the use of forward-looking words such as “upon”,
“may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”,
“anticipate”, “expect”, “believe” or “continue”, or the negative
thereof or similar variations. These statements are not guarantees
of future performance and involve risks and uncertainties that are
difficult to predict such as the ability to begin deliveries of EV
Star Cab and Chassis to Workhorse in July 2022 or the delivery of
all of the EV Star Cab and Chassis to Workhorse over the initial
delivery schedule, or are beyond GreenPower’s control such as the
ability of Workhorse to timely deliver the W750 step van utilizing
the EV Star Cab and Chassis. A number of important factors
including those set forth in other public filings (filed under the
Company’s profile on www.sedar.com) could cause actual outcomes and
results to differ materially from those expressed in these
forward-looking statements. Consequently, readers should not place
any undue reliance on such forward-looking statements. In addition,
these forward-looking statements relate to the date on which they
are made. GreenPower disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise.
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