CINCINNATI, Feb. 24, 2015 (GLOBE NEWSWIRE) -- AMP Holding Inc. (OTCQB:AMPD), the parent company of AMP Trucks Inc., entered into a purchase agreement to supply Standard Equipment Company, an environmental equipment solutions provider for companies and municipalities and exclusive dealer for electric vehicles to the City of Chicago, with three new Workhorse E-GEN™ medium-duty electric trucks.
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. This typically occurs when the vehicle is parked and the driver is out of the vehicle making deliveries.
Jerry Donlon, CEO of Standard Equipment Company, said, "As an environmentally conscious company, we welcome AMP Holding's Workhorse E-GEN trucks to our fleets. These are unique, first-of-their-kind vehicles and we are particularly excited that they will be deployed in Chicago where Mayor Rahm Emanuel is such strong advocate for battery-electric propulsion."
The use of the onboard engine enables AMP to produce an electric vehicle (EV) with a smaller battery pack using Panasonic 18650 Li-ion cells. The smaller battery pack allows the company to produce a very competitively priced EV while eliminating operator concerns about range. As a result, the new powertrain, which eliminates the transmission, significantly reduces operating costs. A Workhorse E-GEN truck will deliver the equivalent of nearly 20 mpg compared to the 7.5 mpg most operators get now, while reducing maintenance costs.
Marty Rucidlo, AMP's President, added, "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 reduces the overall operating costs of these vehicles and can provide fleet operators payback on their investment within three years."
About Standard Equipment Company
Since 1969, Standard Equipment has provided environmental equipment solutions for companies and municipalities, providing the finest new and custom rebuilt trucks, equipment, parts, accessories, service and support. By constantly putting its customers first, and building customized environmental equipment solutions for every situation, Standard has built a reputation of excellence.
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
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CONTACT: Daniel Zito Director/Business Development AMP Holding Inc., AMP Electric Vehicles Inc., AMP Trucks Inc. 513.300.5910 email@example.com Public Relations: Dian Griesel Int'l. Enrique Briz 212-825-3210Source:AMP Holding, Inc.