Blog Coverage Ryder Collaborates with Workhorse; Delivers Maintenance and Services to Company’s Fleet

LONDON, UK / ACCESSWIRE / May 3, 2017 / Active Wall St. blog coverage looks at the headline from Ryder System, Inc. (NYSE: R) and Workhorse Group, Inc. (NASDAQ: WKHS). Ryder System announced on May 02, 2017, that the Company will be the strategic service partner for Workhorse Group, an Ohio-based electric-battery truck and drone manufacturer. Ryder will be the exclusive maintenance provider for Workhorse’s entire light- and medium-duty range-extended electric vehicle fleet in North America. The Company will additionally offer a combination of warranty and maintenance services as part of Ryder’s SelectCare fleet maintenance portfolio. Register with us now for your free membership and blog access at:

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Breaking down the Agreement

Under this partnership with Workhorse, Ryder will expand its leadership in advanced vehicle technology and strengthen its ability to offer customers with the most flexibility, choice, and control in fleet management, as well as innovative solutions to meet sustainability goals. Ryder views this agreement as a step to make electric commercial vehicles more affordable and reliable, so more businesses can take advantage of their environmental and efficiency benefits.

Ryder currently has market leadership in operating advanced vehicle technologies in commercial truck applications and includes Company’s natural gas vehicle and maintenance solutions offering. Ryder has about 100 million miles of NGV operations, 22 NGV maintenance facilities, and more than 6,200 NGV trained maintenance and support personnel across the Company’s North America service network.

Workhorse Portfolio

Workhorse is an American tech company focused on delivering sustainable and cost-effective solutions to the commercial transportation industry where it manufactures and sells the E-100 battery-electric and E-GEN range-extended electric vehicles. The Workhorse E-100 and E-GEN medium-duty vehicles are currently available to customers in North America while the W-15 electric pickup model’s production will start in 2018. Workhorse additionally delivers manufactured, fully integrated truck-launched, FAA-compliant unmanned aerial systems delivery drones.

Workhorse is set to receive access to a superior level of maintenance solutions at hundreds of Ryder service stations throughout North America. The Ryder SelectCare maintenance portfolio is set to maximize uptime, lower costs, and keep customer’s business going. Through the execution of this agreement, Ryder and Workhorse will work together in promoting energy efficiency and innovation in the industry.

Ryder’s Growth Portfolio

Recently, on March 29, 2017, Ryder System announced that all new vehicles which come into its North American commercial rental fleet will now include innovative safety designs, such as forward looking radar and collision mitigation systems. The new vehicles will be the standard specification for Ryder’s commercial rental fleet as the response to increasing demand from consumers looking to enhance fleet performance, safety, and driver job satisfaction.

Ryder has been stepping on a unique growth strategy lately. In 2016, Ryder expanded its advanced vehicle portfolio and continued its leadership in the market with the announcement that the Company will be an exclusive maintenance and distribution partner in North America for the hydrogen fuel cell Nikola One semi-truck. Nikola’s hydrogen fuel cell semi-truck usually has a range of 800-1200 miles and achieves approximately 15-20 mpg with zero emissions.

Stock Performance

At the closing bell, on Tuesday, May 02, 2017, Ryder System’s share price finished yesterday’s trading session at $68.75, climbing 1.00%. A total volume of 625.49 thousand shares exchanged hands. The stock has advanced 2.49% in the last twelve months. The stock is trading at a PE ratio of 14.91 and has a dividend yield of 2.56%. At Tuesday’s closing price, the stock’s net capitalization stands at $3.72 billion.

At the close of yesterday’s trading session, Workhorse Group’s stock price jumped 7.50% to end the day at $2.15. A total volume of 426.91 thousand shares were exchanged during the session, which was above the 3-month average volume of 230.61 thousand shares. The stock currently has a market cap of $79.14 million.

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