Positioned to Become First Truck OEM to Offer Array of Alternative-Fuel
Cincinnati, Ohio, March 4, 2013.
AMP Holding Inc. (OTCBB and OTCQB: AMPD), through a newly formed subsidiary, Amp Trucks, Inc.,
has entered into a 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). The parties expect to close the acquisition on or about March 13, 2013.
AMP plans to produce Step-Vans and other vehicle types using the former Workhorse Custom Chassis
plant in Union City, Indiana. A specific timetable to re-open the Workhorse® plant will be announced as
the transition occurs and order backlogs are established.
With this acquisition AMP will be positioned to be the first truck OEM in the United States to offer a
range of alternative fuel vehicles produced in an automated assembly plant. By offering an all-electric
Workhorse® chassis along with gasoline-powered, and alternative-fuel powered models, AMP will
become a premier OEM capable of building alternative fuel vehicles for the commercial market. AMP’s
vehicles will be sold and supported through the existing Workhorse® network of 440 dealers.
Steve Burns, CEO of AMP said, “Our acquisition of the Workhorse assets will enable us to continue
producing the premium-quality chassis that Workhorse is known for while giving us the perfect platform
for our battery-electric power-train technology. It makes good strategic sense for us and we expect to
be well positioned to meet the ever increasing demands of the market.”
About AMP Holding Inc.
AMP Holding is the parent company of Amp Electric Vehicles, a manufacturer of electric drive systems
for medium-duty class 3-6 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.
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