Why Workhorse Group Stock Is Rising Today
Shares of Workhorse Group (NASDAQ: WKHS) are rising today, up 12.3% as of 10:30 a.m. EDT, after the maker of electric delivery vans announced a strategic deal with Japanese electronics giant Hitachi (OTC: HTHIF) aimed at helping Workhorse execute its growth plan.
In a statement before the markets opened on Monday, Workhorse said that it has entered into "strategic agreements" with Hitachi's U.S. subsidiary, Hitachi America, and its financing arm, Hitachi Capital America Corporation.
Under the deals, Hitachi America will assess Workhorse's manufacturing, supply chain, and other operational capabilities and provide recommendations to get them to best-in-class levels as Workhorse ramps up production of its new C-Series package-delivery vans.
Source Fool.com
