CINCINNATI, Sept. 9, 2024 (GLOBE NEWSWIRE) — Workhorse Group Inc. (Nasdaq: WKHS) (“Workhorse” or “the Company”)an American technology company committed to leading the transition to zero-emission commercial vehicles, today announced that FedEx (NYSE: FDX) has placed an order for 15 W56 delivery vans to be delivered in 2024. This milestone order follows a successful demonstration in which the Workhorse W56 delivery van met FedEx’s duty cycle requirements.

The purchase of these 15 W56 delivery trucks supports FedEx’s goal of achieving carbon neutral global operations by 2040. This underscores the company’s phased approach to replacing older vehicle technologies with new zero-emission solutions. In real-world delivery route testing, the W56 achieved an impressive 31 MPGe. Compared to the national average fuel economy of 7 MPG for delivery trucks, this demonstrates significantly lower energy consumption per mile. Based on an average mileage of 31,875 miles per vehicle per year, the purchase is estimated to avoid 607 tons of exhaust emissions per year.¹

“FedEx is building a strong lineup of electric vehicle models that can meet the needs of our network,” said Pat Donlon, Vice President, Global Vehicles, FedEx. “As a complement to our fleet, the electric Workhorse W56 will be part of our history as we intend to fully convert our global package pickup and delivery fleet to zero-emission vehicles by 2040.”

Rick Dauch, CEO of Workhorse, expressed his enthusiasm about the collaboration: “We are very pleased to have been selected by FedEx and to support their sustainability goals. This milestone demonstrates our highly efficient and high-quality EV chassis and body, as well as our outstanding engineering, field service, conversion and operations capabilities. Our ability to build complete vehicles sets us apart from our competitors and allows us to fulfill orders quickly. We look forward to working with FedEx as they transition to electric last-mile delivery vehicles.”

The Workhorse W56 delivery truck has been carefully engineered to meet the demanding needs of commercial last-mile delivery services. With its efficient eAxle electric drive and extended range, supported by highly efficient regenerative braking, the W56 offers superior efficiency, lower operating costs and a smaller environmental footprint, making it perfect for stop-and-go delivery routes and an ideal choice for last-mile delivery.

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

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About Workhorse Group Inc.
Workhorse is a technology company focused on delivering ground-based electric vehicles to the last-mile delivery sector. As an American original equipment manufacturer, we design and build high-performance, battery-powered electric trucks. Workhorse also develops real-time, cloud-based telematics performance monitoring systems that are fully integrated into our vehicles, enabling fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the transportation of people and goods more efficient and less harmful to the environment. For more information, visit arbeitshorse.com.

Forward-looking statements

The statements in this press release contain forward-looking statements that reflect our current expectations and involve risks and uncertainties. These statements are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. The words “anticipate,” “expect,” “plan,” “believe,” “seek,” “estimate” and similar expressions used in this press release are intended to identify forward-looking statements and refer to future periods. These are statements that involve substantial risks and uncertainties, including our ability to deliver the W56 vans ordered by FedEx on a timely basis, the delivery and acceptance terms applicable to the order, the expected delivery date and the expected performance of the W56 van, including expected fuel consumption and estimated reductions in exhaust emissions. Forward-looking statements are statements that are not historical facts and speak only as of the date they are made. 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 respect 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 Klassen
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Contact for Investor Relations:
Matt Glover and Tom Colton
Gateway Group
949-574-3860
[email protected]

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¹ Based on EPA estimates