Workhorse Group Establishes Certified Dealer Program and Announces Kingsburg Truck Center as its First Certified Dealership in California

Rhea-AI Summary

Workhorse Group (WKHS) has introduced a Certified Dealer Program aimed at creating a verified network of dealers for the maintenance of its electric vehicles. The first certified dealer, Kingsburg Truck Center, is based in California and has invested in EV infrastructure to support this initiative. The program includes comprehensive training for dealers to ensure quality maintenance and facilitate vehicle deployment for customers. CEO Rick Dauch highlighted that this initiative is crucial for expanding Workhorse’s market presence and ensuring reliable service. Kingsburg will also receive the first ten W4 CC units as part of the partnership.

Positive

• Launch of Certified Dealer Program to enhance dealer network.
• Kingsburg Truck Center becomes the first certified dealer in California.
• Program includes extensive training for dealers on vehicle maintenance.
• Kingsburg has invested in EV infrastructure and received initial W4 CC units.

Negative

• None.

CINCINNATI, March 21, 2023 (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 the launch of its new Certified Dealer Program, an initiative to develop an official network of verified dealers that have passed the protocols necessary to safely repair and maintain the electric components of the Company’s vehicles. Workhorse has engaged Kingsburg Truck Center (“Kingsburg"), a work truck dealer headquartered in Kingsburg, California, as its first certified electric vehicle (“EV”) dealer in California.

As part of the Certified Dealer Program, Workhorse has established a comprehensive training program that provides dealers with both hands-on and online training, including technical sales training. The program will enable dealers to safely assist customers with vehicle maintenance in addition to providing strategies for vehicle deployment into their fleets. To ensure high quality vehicle maintenance, Workhorse certified dealers have also made investments in EV charging infrastructure, tooling, and building out spare parts inventory.

Kingsburg not only sells trucks but also specializes in installing various applications for specific industry needs, making their business model uniquely suited to sell Workhorse’s products.

“The launch of our Certified Dealer Program is one of the vital early steps in activating our go-to-market efforts and creating a strong foundation for both our dealers and end customers,” said Workhorse CEO Rick Dauch. “We are committed to providing our customers with safe, reliable vehicles and the highest standard of service, and this new program will be an integral component to building a reliable network for sales and maintenance. The partnership with Kingsburg Truck Center expands our dealer footprint westward into California, the bellwether state for the EV market. We look forward to growing our relationship with Kingsburg and other dealers domestically as we scale production and commercialize our trucks this year.”

Kingsburg Truck Center President Jerry Smith added: “Our company is aligned with Workhorse’s mission and vision, which is why we decided to partner with them as a certified dealer. We’ve already made the strategic investments necessary and are ready to hit the ground running. Kingsburg will also be taking delivery of the first ten W4 CC units available to begin our partnership and address the wide range of applications in the San Joaquin Valley.”

About Workhorse Group Inc.
Workhorse is a technology company focused on providing electric vehicles and drones to the last-mile delivery sector. As an American original equipment manufacturer, we design and build 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.

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. These are statements that relate to future periods and include, but are not limited to, statements about the features, benefits and performance of our products, our ability to introduce new product offerings and increase revenue from existing products, expected expenses including those related to selling and marketing, product development and general and administrative, our beliefs regarding the health and growth of the market for our products, anticipated increase in our customer base, expansion of our products functionalities, expected revenue levels and sources of revenue, expected impact, if any, of legal proceedings, the adequacy of liquidity and capital resources, and expected growth in business. 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 in this press release. Factors that could cause actual results to differ materially include, but are not limited to: our ability to develop and manufacture our new product portfolio, including the W4 CC, W750, W56 and WNext 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, semiconductors and other material inputs and resulting cost increases impacting our company, our customers, our suppliers or the industry; our ability to capitalize on opportunities to deliver products to meet customer requirements; our limited operations and need to expand and enhance elements of our production process to fulfill product orders; the ability to protect our intellectual property; market acceptance for our products; our ability to control our expenses; potential competition, including without limitation shifts in technology; volatility in and deterioration of national and international capital markets and economic conditions; global and local business conditions; acts of war (including without limitation the conflict in Ukraine) and/or terrorism; the prices being charged by our competitors; 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 inability to satisfy our customer warranty claims; the outcome of any regulatory or legal 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. Forward-looking statements 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.

Media Contact:
Aaron Palash / Greg Klassen
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449

Investor Relations Contact:
Matt Glover and Tom Colton
Gateway Investor Relations
949-574-3860
WKHS@gatewayir.com

FAQ

What is the Certified Dealer Program by Workhorse Group?

The Certified Dealer Program is an initiative by Workhorse Group to establish a network of verified dealers trained to maintain and repair the company's electric vehicles.

Who is the first certified dealer for Workhorse in California?

Kingsburg Truck Center is the first certified dealer for Workhorse in California.

What are the benefits of the Certified Dealer Program for Workhorse?

The program aims to ensure high-quality vehicle maintenance, provide dealers with training, and expand Workhorse's market presence.

When did Workhorse announce the Certified Dealer Program?

Workhorse announced the Certified Dealer Program on March 21, 2023.

How many W4 CC units will Kingsburg Truck Center receive?

Kingsburg Truck Center will receive the first ten W4 CC units as part of their partnership with Workhorse.