Workhorse Stock Is Surging After Hours - Here's Why

Workhorse Group, Inc. WKHS shares are trading higher in Tuesday's after-hours session after the company announced it had received IRS approval as a qualified Commercial Clean Vehicle Credit manufacturer.

What To Know: Workhorse stock popped after hours following news of the approval, which will allow its customers the ability to receive up to a $40,000 credit for deliveries of all Workhorse vehicles in 2023 and beyond.

"We are focused on leading the transition to commercial EVs to make last-mile delivery more efficient and less harmful to the environment and are pleased that the IRS recognizes the inherent sustainability of our commercial EVs," said Workhorse CEO Rick Dauch. 

"We look forward to providing this credit to our customers as we deliver our all electric, dependable, high quality commercial vehicles."

Related Link: Evolution Petroleum's Q4 Earnings Miss - Stock Falls After-Hours

WKHS Price Action: Shares of WKHS were up 30.40% at $0.83 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by (Joenomias) Menno de Jong from Pixabay