CINCINNATI, May 16, 2018 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS), an American technology company focused on providing sustainable and cost-effective solutions to the commercial electric transportation sector, today announced that the HorseFly truck-launched Autonomous Drone Package Delivery System is now making real-life package deliveries to homes in the Cincinnati area in a pilot program with the City of Loveland and the FAA. Consumers in select Cincinnati zip codes opted-in to accept packages from Horsefly via the Workhorse Ares Drone Package Delivery App, which is designed to seamlessly integrate with existing online e-commerce platforms.

The unique, patented HorseFly system complies with current FAA safety regulations for drone package delivery. Currently, each package is delivered within the delivery driver's line of sight. Data from the pilot will provide essential insights into consumer preferences, as well as real-world evidence to support expanded use cases with the FAA. To date, the system has been successfully tested with UPS and an undisclosed large retailer, and aims to provide significant cost savings by eliminating extra miles of driving to deliver packages.

"We feel this is a game-changing moment to innovate the way packages are delivered for many years to come," said Steve Burns, Workhorse CEO. "By not only reducing the expense of last mile delivery, but also providing the consumer with the ability to opt-in, visualize, and confirm their package delivery on their property, we have re-imagined home delivery."

The HorseFly UAV Delivery System is a custom-built, high efficiency delivery UAV that is fully integrated with the Workhorse line of electric delivery trucks. The HorseFly system is designed to work with drivers to increase their efficiency and significantly lower the expense of last mile delivery. The truck launched drone system is designed to assist a driver as follows:

The truck delivery driver loads the package and launches the HorseFly drone

The HorseFly drone autonomously launches from the roof of the delivery truck, gains altitude and proceeds to the delivery location, monitoring by a centralized Horsefly control center. The consumer can also monitor the progress of their package delivery through their downloaded app

At the delivery location, which the consumer can choose on the app by touching the point on a map, the drone autonomously descends and the package is released. The consumer can opt-in to receive a photograph and confirmation of their delivery.

The HorseFly drone returns to the delivery truck at a planned stop and autonomously redocks and recharges for its next delivery

About Workhorse Group Inc.

Workhorse is a technology company focused on providing sustainable and cost-effective solutions to the commercial transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. We also develop 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 www.workhorse.com.

Forward-Looking Statements

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 "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," 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.

Media:

Ryan Hallett

[email protected]

(212) 546-2598

SOURCE Workhorse Group Inc.

Related Links

http://www.workhorse.com

