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 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.