Workhorse C-Series Vehicles Receive Voucher Eligibility from the New York State Energy and Research Development Authority PR Newswire
CINCINNATI, Oct. 19, 2020
CINCINNATI, Oct. 19, 2020 /PRNewswire/ -- Workhorse Group Inc. (Nasdaq: WKHS) ("Workhorse" or "the Company"), an American technology company focused on providing sustainable and cost-effective drone-integrated electric vehicles to the last-mile delivery sector, announced that it has received approval from the New York Truck Voucher Incentive Program ("NYTVIP") to offer monetary vouchers for its C-Series all-electric delivery vehicles in select New York State counties.
Workhorse's 2020 model year C-1000 Standard Range and C-650 Extended Range electric step vans were deemed eligible for monetary vouchers of up to $48,328 and $44,328 per vehicle, respectively. Under the rules of the program, in order to receive the full voucher amount, vehicle purchasers must replace, or scrap, an existing diesel-powered vehicle for each NYTVIP eligible vehicle in its place.
"Being able to sell our vehicles through the NYTVIP will enable us to dramatically reduce the sales price of our C-Series vehicles to eligible purchasers, which should be a material, positive contributor to new sales going forward," said Workhorse CEO Duane Hughes. "The application and approval process was a significant undertaking that, now completed, gives us another advantage in the last-mile delivery space. We're appreciative of being included within the state of New York's broader efforts to reduce carbon emissions by making it easier for fleets to adopt clean vehicle technologies."
The NYTVIP rebate for Workhorse trucks is available to fleets located in thirty New York counties. The NYTVIP program was created to accelerate the deployment of all-electric and alternative fuel vehicles in medium and heavy-duty truck and bus fleets throughout the state. |
