Workhorse Group's Stock Soars 20% on IRS Approval for Clean Vehicle Credit

Workhorse Group has received IRS approval as a qualified manufacturer for the Commercial Clean Vehicle Credit, allowing customers to potentially receive up to a $40K credit for deliveries of all Workhorse vehicles in 2023 and beyond. The approval recognizes the company's focus on leading the transition to commercial electric vehicles and making last-mile delivery more efficient and environmentally friendly. Workhorse Group's shares surged 20.55% in postmarket trading following the announcement.