CINCINNATI, Feb. 13, 2017 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS), an original equipment manufacturer (OEM) of battery-electric vehicles, today announced that its electric delivery truck models are achieving 30+ miles per gallon equivalent (MPGe) during stop-and-go parcel, bakery, and uniform delivery routes. This is up to six times more fuel efficient than the typical 5-8 miles per gallon achieved by gasoline- or diesel-powered medium-duty trucks.
The performance of the vehicles gathered from the data being collected which demonstrates the fuel savings, total efficiencies gained and maintenance reductions is modeling as much as $165,000 total cost-of-ownership savings per vehicle.
The 30+ MPGe was calculated by analyzing the first 250,000 miles driven using Workhorse's METRON telematics system, a proprietary multi-platform proof-of-performance application enabling fleet managers to monitor and manage the performance of their fleet vehicles in near real time via a wireless 4G cellular network connection.
"By achieving 30 MPGe with over 125 medium-duty trucks on the road, Workhorse is setting a new standard with our electric delivery vehicles," said Steve Burns, Workhorse CEO. "Medium-duty local delivery trucks are the backbone of the Last Mile delivery system and a 6-fold fuel economy increase as well as reduced maintenance and zero or near zero emissions are a major change to the conventional delivery system."
The Workhorse METRON telematics system logs signals from the vehicle components and uploads them along with GPS data to the cloud, where the data signals are tracked, processed and made available for viewing on the web in near real time. The systems' critical metrics, such as the MPGe measurements, are extremely accurate.
In addition to tracking fuel efficiency, the METRON system monitors battery cell voltage, state-of-charge, and total miles as well as total efficiency. In all, METRON collects over 500 points of data, every 10 seconds and displays performance, powertrain system and location data to end users through the application portal. The Metron system is bi-directional and permits Workhorse to send new software system updates over the air to the vehicles in the field when desired.
"Fleets today are watching the efficiency of their vehicles very closely," Burns said. "METRON telematics allows fleet managers to monitor and manage all Workhorse electric vehicles in their fleet, with near real-time insight giving these managers important performance information about each vehicle. This ensures that our customers are obtaining the full cost-of-ownership savings coming from our electric vehicles power and efficiency."
About Workhorse Group Inc.
Workhorse Group, Inc. (NASDAQ: WKHS), is a U.S. – based original equipment manufacturer of medium duty EPA-approved battery-electric delivery vehicles and fully integrated truck-launched, FAA compliant unmanned aerial systems (UAS) delivery drones. Workhorse trucks have historically been sold to the largest fleets in the USA and Canada for last-mile delivery and related uses.
For additional information visit www.workhorse.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.
Workhorse Group Inc.
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SOURCE Workhorse Group Inc.