AMP will manufacture its all-electric Workhorse® chassis along with gasoline-powered, and alternative-fuel powered models and will be sold and supported through the existing Workhorse® network of 440 dealers
Cincinnati, OH (PRWEB) March 14, 2013
AMP Holding Inc. (OTCBB and OTCQB: AMPD), through a newly formed subsidiary, Amp Trucks, Inc., has completed the previously announced definitive agreement to acquire the Workhorse® brand, logo, IP, patents, and assembly plant from Workhorse Custom Chassis, LLC, a wholly owned affiliate of Navistar International Corporation (NYSE: NAV) and has today taken possession of the assembly plant.
The Union City, IN assembly plant has the capacity to produce up to 30,000 chassis per year. AMP plans to produce Step-Vans and other vehicle types for the North American medium-duty, commercial truck market at the facility.
[AMP will manufacture its all-electric Workhorse® chassis along with gasoline-powered, and alternative-fuel powered models and will be sold and supported through the existing Workhorse® network of 440 dealers. This acquisition positions AMP as the first truck OEM in the United States to offer medium-duty commercial-grade electric, gasoline, propane, hybrid, and CNG vehicles.
Jim Taylor, AMP’s Chairman said, “We look forward to owning Workhorse, a highly respected brand, and having the opportunity to install our electric power train in a well-proven chassis and, at the same time, continuing to satisfy the needs of long-standing Workhorse customers.”
About AMP Holding Inc.
AMP Holding is the parent company of Amp Electric Vehicles, a manufacturer of electric drive systems for medium-duty class commercial truck platforms. AMP Electric Vehicles, Inc. was founded in 2007 by entrepreneurs who have created several hi-tech companies. The AMP team is comprised of top automotive industry veterans and business executives. AMP has been focused on the electrification of fleet vehicles, including medium-duty class 3-6 trucks and vans. Over the past several years, the company’s vehicle electrification technology has provided new solutions to America’s energy demands. For additional information visit http://www.ampelectricvehicles.com
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.
SOURCE: AMP Holding Inc.
For Additional Information please contact:
Martin Rucidlo: 513-310-3460: martin.rucidlo(at)ampelectricvehicles.com
Daniel Zito: 513-300-5910: dan.zito(at)ampelectricvehicles.com