By Dean Seal
Shares of Workhorse Group rose after the company said it has received approval from the Internal Revenue Service to be a qualified manufacturer for the Commercial Clean Vehicle Credit.
The stock was up 11% at 70 cents in early trading. Shares are still down by more than 50% so far this year.
The Cincinnati company said after the bell on Tuesday that the approval makes Workhorse customers eligible to receive up to a $40,000 credit for deliveries of Workhorse vehicles.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
09-13-23 1055ET