Stock Alert: Workhorse Touches New 52-week High On FMVSS Test Completion For Electric Vans

(RTTNews) - Shares of Workhorse Group Inc. (WKHS) are gaining more than 19 percent or $1.15 in Tuesday's morning trade at $7.07, after touching a new 52-week high of $7.48 earlier.

Tuesday, Workhorse Group said it has successfully completed Federal Motor Vehicle Safety Standards or FMVSS testing for its C650 and C1000 all-electric delivery vans. The FMVSS testing for both the C650 and C1000 vans had been delayed by complications related to the COVID-19 pandemic. The testing was officially completed this week as facilities and supporting manpower were restored.

"The successful completion of our FMVSS testing confirms that the design, construction, performance, and durability of our all-electric 650 and 1000 cubic foot C-Series delivery vans meet federal requirements, making Workhorse the only American all-electric OEM designing and manufacturing last mile delivery vehicles to complete this testing," said Workhorse Group CEO Duane Hughes.

The stock has traded in a range of $1.32 to $7.48 in the past 52 weeks.