Workhorse Group (WKHS) Reenters Exclusivity Period for Potential EV Manufacturer Merger

Workhorse Group Inc. (NASDAQ:WKHS) is one of the best EV penny stocks to buy according to hedge funds. On August 4, the company announced it had entered a new exclusivity agreement with a privately held U.S.-based manufacturer of electric commercial vehicles in connection with a potential transaction. The two companies are discussing a possible deal where the manufacturer would merge into a new subsidiary of Workhorse. In return, the manufacturer would receive newly issued shares of Workhorse common stock.

Workhorse Group (WKHS) Reenters Exclusivity Period for Potential EV Manufacturer Merger

Workhorse previously entered a 14-day exclusivity agreement from July 14 to July 28, 2025, restricting negotiations with other parties, except under a “fiduciary out.” A new seven-day agreement reinstates those terms. The company clarified this update isn’t an offer to sell securities or solicit votes, and cautioned that ongoing talks may not lead to a final deal or maintain current terms.

Workhorse Group Inc. (NASDAQ:WKHS) is an American electric vehicle manufacturer specializing in commercial delivery vans and trucks. Its product lineup includes the W4 CC and W750 electric vans, designed for last-mile logistics and fleet operations. Workhorse operates manufacturing facilities in Ohio and leverages strategic partnerships to enhance vehicle performance and distribution.

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Disclosure: None. This article is originally published at Insider Monkey.