CINCINNATI, Ohio, Sept. 4, 2014 (GLOBE NEWSWIRE) -- via PRWEB - AMP Holding Inc., (OTCBB:AMPD) (OTCQB:AMPD), a medium-duty truck OEM, announced today that the company has successfully completed the build of its prototype E-GEN™ Electric Truck. The new truck is operational and will participate in the Ride and Drive at the High Efficiency Truck User Forum, September 22-24 in Argonne, IL.
Fully EPA approved, the ultra-efficient E-GEN Truck incorporates a small spark-ignition engine as an emergency generator that automatically turns on to recharge the battery pack only if the pack's state of charge falls below a predetermined threshold, the drive selector is in PARK and the key is out, typically when the driver is in making deliveries.
Steve Burns, AMP's CEO stated "Delivering this unique solution to the medium duty truck market is a game-changer for fleet operators interested in reducing the total cost of ownership of their vehicles. E-GEN offers a three year payback without government incentives."
The use of the engine enables AMP to produce an electric vehicle (EV) with a smaller 18650 battery pack with cells from a leading Japanese manufacturer. The new battery pack allows the company to produce a very competitively priced EV while eliminating operator concerns about range. The real benefit to the fleet operator, and perhaps the most exciting element of this, is that the new powertrain, which eliminates the transmission, significantly reduces operating costs – an E-GEN Workhorse truck will deliver the equivalent of 20 mpg compared to the 7.5 mpg most operators get now while reducing maintenance costs.
About AMP Holding Inc.
AMP Holding Inc. is the parent company of AMP Electric Vehicles Inc. and AMP Trucks, Inc. AMP Electric Vehicles manufactures electric drive systems for medium-duty, class 3-6 commercial truck platforms. AMP Trucks, Inc., which purchased the assets of Workhorse Custom Chassis LLC from Navistar in March of 2013, can equip its Workhorse chassis with gasoline, propane, or CNG engines. For additional information visit http://www.ampelectricvehicles.com.
Forward Looking Statements
Forward-Looking Statements 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.
Contact:
Daniel Zito
Director/Business Development
AMP Holding, Inc., AMP Electric Vehicles, Inc., AMP Trucks, Inc.
513.300.5910
dan.zito(at)ampelectricvehicles(dot)com
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