Workhorse Group Inc. designs, manufactures, and builds battery-electric vehicles and aircraft in the United States. It operates through two divisions, Automotive and Aviation. The company also develops cloud-based and real-time telematics performance monitoring system that enables fleet operators to optimize energy and route efficiency. Its products include medium duty step vans, light duty pickups, delivery drones, and manned multicopters. The company was formerly known as AMP Holding Inc. and changed its name to Workhorse Group Inc. in April 2015. Workhorse Group Inc. was founded in 2007 and is headquartered in Loveland, Ohio.
AMP Electric Vehicles was established in 2007 as a developmental-stage vehicle electrification company. We first experimented with adding battery-electric power to two-seat roadsters.
In 2009/2010, Progressive Insurance sponsored a rigorous nation-wide competition for clean, “production-capable” vehicles. Our 100% electric GM Sky was the only mass-produced vehicle in the competition. All other vehicles were primarily prototypes or concept vehicles not suitable for driving on public roads. We were one of eight finalists in the Side-by-Side seating category. Our Sky achieved four times the fuel efficiency of an internal combustion equivalent with zero emissions (96 MPGe vs.19/24 city/highway for ICE version).
We followed the electrification of the Sky Roadster with the design and implementation of systems capable of powering larger vehicles. This led to the creation of electrification packages for the Chevrolet Equinox SUV, the Jeep Grand Cherokee and the Mercedes Benz ML350. These development activities resulted in the successful execution of the concept for SUVs.
AMP Electric Vehicles went public in 2010 trading on the OTC market under the AMPD symbol. When the economic benefits of conversion became less certain, we pivoted away from passenger vehicles and began to focus on electrifying commercial vehicles. This led to a development agreement with Navistar, a major U.S. truck OEM. Under the development agreement, the initial project was to re-power a 1,000 cubic foot delivery van.
The first vehicle was delivered to them in August of 2012 and successfully passed Navistar’s requirements and performance test. Navistar’s top management changed at precisely the same time the project vehicle passed its performance test and Navistar tabled the electrification project. They did however, introduce us to their client and AMP began to work directly with the end-user. As part of the end-user’s requirement, the battery-electric test truck successfully passed a 4,000-mile durability test at TRC, Inc.’s automotive test facility in East Liberty, OH.
AMP acquired the Workhorse brand and the Workhorse Custom Chassis assembly plant in Union City, IN in March of 2015. The asset acquisition made the company an OEM and enables the company to manufacture new, medium-duty truck chassis in the 14,500 to 23,500 GVW class.
In addition to the plant assets, our exclusive arrangement with UpTime Parts, Inc. for logistical and spare parts support and our 400+ network of dealers provides AMP with unequaled nationwide support for our vehicles.
In March of 2015, AMP formally changed its name to Workhorse Group Incorporated (NASDAQ: WKHS).
Workhorse to Exhibit W-15 Electric Pickup Truck at the National Drive Electric Week™ Event in Cincinnati Sept. 9
CINCINNATI, Sept. 6, 2017 /PRNewswire/ -- Workhorse Group Inc. (WKHS), a Cincinnati-based technology company focused on providing electric mobility solutions to the transportation sector, today announced that it will exhibit the new W-15 electric range-extended pickup truck at the National Drive Electric Week™ event at Cincinnati's Tri-County Mall on September 9. The truck will be on display and available for test drives from 10:00 a.m. to 3:00 p.m.
TM4 receives follow-on order from Workhorse for more than 500 SUMO powertrain systems
BOUCHERVILLE, QC, Aug. 22, 2017 /PRNewswire/ - TM4 Inc. today announced that it has received a new purchase order from Workhorse Group Inc. (NASDAQ: WKHS) that covers the supply of SUMOTM MD powertrain systems for the E-GEN battery-electric extended range and E-100 all-electric delivery truck platforms. Following last year's supply of 150 systems, this order will fulfill Workhorse's near-term powertrain requirements for the supply of more than 500 of E-GEN and E-100 delivery trucks to customers, which include UPS, FedEx Express and through Workhorse's channel partner Ryder Inc.
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