• New Purchase Orders for W56: Recent orders for seven W56 electric step vans for immediate delivery upon completion of upfit.
• Growing Fleet Interest and Demos: Following the FedEx Forward event, Workhorse is experiencing increased parcel delivery fleet interest, with multiple demos planned in California and additional units now in the quoting process.

CINCINNATI, Nov. 07, 2024 (GLOBE NEWSWIRE) -- 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 it has secured purchase orders from three parcel delivery independent service providers for its W56 step vans. The new orders, received in the 30 days following the Company’s participation at FedEx Forward Service Provider Summit, are for seven W56 electric trucks for parcel delivery, including both the standard 178” wheelbase (for 1,000 cubic feet of cargo space) and the new 208” extended wheelbase (for 1,200 cubic feet of cargo space). All vehicles are scheduled for delivery by the end of the year.

With a marked increase in fleet interest, Workhorse’s third quarter was active, with demos performed at multiple parcel delivery terminal depots across California, where FedEx has installed and connected electric charging systems. Additional potential truck orders are now in the quoting process. Fleet operators recognize the W56 as a reliable, zero-emission vehicle for high-density urban routes, rural routes or routes that require increased cargo capacity needs.

“As parcel delivery fleets transition to zero-emission vehicles, we believe the W56 is an ideal fit,” said Ryan Gaul, President of Commercial Vehicles at Workhorse. “We understand the importance of uptime for parcel operators, especially during the busy holiday season. That’s why we back our vehicles with a robust service and support network through our certified dealers and national service partners, which helps keep trucks on the road and deliveries on time. Our W56 models are built for the real-world demands of last-mile delivery, offering effective range, cargo capacity flexibility, durability, and reliability in every configuration.”

Designed, engineered, and built in the USA at the Workhorse Ranch in Union City, Indiana, the W56 provides fleet operators with options tailored to specific operational requirements. Workhorse’s approach to quality and support ensures that fleet operators have a dependable partner in their transition to electrification. The W56 1,000 and 1,200 cubic feet models deliver the essential cargo capacity and uncompromising reliability that today’s parcel delivery fleets demand, ensuring Workhorse is ready to drive the future of last-mile logistics.

The Workhorse W56 step van is meticulously engineered to meet the demanding needs of commercial last-mile delivery operations. With its efficient eAxle electric drivetrain and extended range aided by highly efficient regenerative braking, the W56 delivers superior efficiency, lower operational costs, and a reduced environmental footprint. This makes it perfectly suited for stop-and-go delivery routes and an ideal choice for last-mile delivery.

For more information about the W56 step van and Workhorse’s portfolio of Class 4-6 battery-electric vehicles, visit www.workhorse.com.

About Workhorse Group Inc.

Workhorse is a technology company focused on providing ground-based electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high performance, battery-electric trucks. 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 press release, the words “anticipate,” “expect,” “plan,” “believe,” “seek,” “estimate,” and similar expressions are intended to identify forward-looking statements and relate to future periods. These are statements that involve substantial risks and uncertainties, including our ability to timely deliver the W56 step vans that have been ordered, conditions to delivery and acceptance applicable to the purchase orders, the expected delivery date, the expected performance of W56 step van, and the quality of our dealer network and service network’s support services. Forward-looking statements are statements that are not historical facts and 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.

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