SEC Concludes Investigation into Workhorse Group
Posted on 12/28/2022
Workhorse Group Inc. (Nasdaq: WKHS) is a U.S. technology company focused on pioneering the transition to zero emission commercial vehicles. The company was originally known as AMP Electric Vehicles. Workhorse Group is discontinuing the C1000 program, effective immediately, as it fully focuses its resources on advancing its product roadmap for the W4 CC, W750, and W56 vehicles.
Workhorse Group received notice from the Securities and Exchange Commission (SEC) that the previously disclosed investigation of the company has concluded, and the SEC does not intend to recommend any enforcement action against the company at this time.
In a 8-K filing, Workhorse Group reaffirmed its revised guidance range for 2022, which includes manufacturing and delivering approximately 25 to 100 vehicles and generating between US$ 5 million and US$ 15 million in revenue.
