Workhorse share climbs after strategic deals with Hitachi

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Actions de Workhorse Group Inc. WKHS,
-2,17%
Monday, after the electric van and drone maker announced strategic deals with Hitachi America Ltd. and Hitachi Capital America Crop. to assess Workhorse’s manufacturing and supply chain capabilities. The agreements will help Workhorse develop a nationwide dealer network and support sales with vehicle financing options for dealers and customers. “This alliance with Hitachi comes at an ideal time for Workhorse as we value their innovation and leading edge experience in accelerating production and enabling us to provide a complete solution to our customers,” said Duane Hughes, Managing Director by Workhorse. “With Hitachi’s invaluable innovation and expertise in EV technology, intelligent industrial automation and digital technologies, Workhorse is poised to build on our early leadership position as the sole distributor of vehicles. last mile electric vehicles for sale for commercial use across the country. Workhorse’s stock has increased more than five-fold (439.1%) since the start of the year through Friday, while the stock of fellow electric vehicle maker Tesla Inc. has also increased five-fold. more than five (up 429.1%), shares of Chinese electric vehicle maker Nio Inc. NIO,
-6,94%
have almost quintupled (+ 360.2%) and the S&P 500 SPX,
+ 0,67%
gained 8.6%.

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