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Wrightspeed Drives the Future of Sustainable Trucking In Midst of COVID Pandemic

ALAMEDA, Calif.--(BUSINESS WIRE)--Nov 17, 2020--

Wrightspeed, a leading manufacturer of range-extended electric powertrains for heavy local transport, is answering the call for cleaner urban transportation as companies, cities and countries across the world build toward sustainable operations. While there has been an increased green push in the wake of COVID-19, Wrightspeed has been ahead of the curve, developing groundbreaking technology to power frequent-stop, heavy-duty buses, refuse, and delivery trucks. Wrightspeed has opened a new route for sustainable trucking by reducing greenhouse gasses, meeting regulatory needs and noise ordinances, and improving total cost of ownership.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005108/en/

The Wrightspeed Team Drives the Future of Sustainable Trucking In Midst of COVID Pandemic (Photo: Business Wire)

“Our engineering innovations have set a new standard for regional transport within the industry,” said Broc TenHouten, VP of engineering, Wrightspeed. "Studies indicate that traditional medium- and heavy-duty trucks comprise only 4 percent of the total on-road vehicles, while producing 30 percent of on-road emissions and consuming 26 percent of the fuel. Wrightspeed’s electric vehicle and range-extended EV solutions can displace conventional diesel engine vehicles, creating the next generation of commercial fleets.”

The majority of the industry is working to attack long-haul trucking challenges. However, most of the heavy-duty trucks on the road are running regional routes. Wrightspeed’s solution is directly targeted at regional applications, including urban distribution, transit buses and refuse trucks. Traditional combustion engine vehicles waste an enormous amount of fuel and produce a proportionate amount of emissions while frequently starting and stopping on these regional routes. Wrightspeed’s solutions address this problem by efficiently recovering breaking energy through an advanced multi-gear electric drive system.

Fleet operators have the option to select a Wrightspeed EV or to include a range extending engine. The range-extended hybrid option ensures the required vehicle range without adding the extra weight of massive battery systems needed by other solutions. On regional schedules, the Wrightspeed range-extended solution provides a 25 percent fuel savings with measured real-world fuel savings of up to 60 percent on more aggressive driving schedules. In addition to fuel savings, annual maintenance and brake replacement can be reduced by as much as $25,000 per year on these aggressive schedules.

"The excitement over commercial vehicle electrification is not hype, it's justified," said Jim Meil, ACT research principal, industry analysis and project leader of ACT's Commercial Electric Vehicle Team. "In the right applications, especially local hauling and in urban stop-and-go operations, electric powertrains can make economic sense from a TCO and ROI perspective today. Factor in governmental green-oriented regulatory initiatives plus corporate sustainability goals, and a compelling value proposition emerges that takes our market share projections on a clear upward path."

Wrightspeed was named a 2016 World Economic Forum “Technology Pioneer” for its innovation in reducing fuel consumption, emissions, noise pollution, and maintenance costs. Most recently, the company was named a top key player in Contrive Datum Insight’s “Electric Dump Truck Analysis Report.” Wrightspeed is engaging with fleet operators and municipalities worldwide to make a global environmental impact.

“Since Wrightspeed’s inception, the company has been geared toward a cleaner and more sustainable future,” said Gilbert Passin, chief operating officer, Wrightspeed. “We are now preparing to move into mass production to meet market demand for electric short-haul transportation. The future is now.”

For more information on Wrightspeed, visit wrightspeed.com.

About Wrightspeed Inc.

Wrightspeed Inc. is a leading manufacturer of range-extended electric powertrains for heavy local transport. Its flagship product, the Route™, was designed to transcend commercial truck efficiency and performance, providing unlimited range and dramatically reduced fuel costs. Located in Silicon Valley, Wrightspeed aims to revolutionize the trucking industry with the future generation of efficient vehicle solutions across product and market segments. For more information about Wrightspeed, visit wrightspeed.com and follow on Twitter at @GOWrightspeed.

Cautionary Statement Regarding Forward-Looking Statements

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's beliefs, and certain assumptions made by us, all of which are subject to change. Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “intends,” “plans,” “predicts,” “believes,” “seeks,” “estimates,” “may,” “will,” “should,” “would,” “could,” “potential,” “continue,” “ongoing,” similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement.

View source version on businesswire.com:https://www.businesswire.com/news/home/20201117005108/en/

CONTACT: Donna Loughlin Michaels

LMGPR for Wrightspeed

(408) 393-5575

[email protected]

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TRUCKING AUTOMOTIVE AUTOMOTIVE MANUFACTURING ENVIRONMENT TRANSPORT MANUFACTURING FLEET MANAGEMENT

SOURCE: Wrightspeed

Copyright Business Wire 2020.

PUB: 11/17/2020 08:00 AM/DISC: 11/17/2020 08:01 AM

http://www.businesswire.com/news/home/20201117005108/en

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