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Workhorse Group (WKHS) Shares Rise On Amerit Fleet Agreement

Updated: 31 Aug 2021

Shares of Workhorse Group (NASDAQ: WKHS) are rising after the company announced an agreement for Amerit Fleet Solutions to provide warranty and demand repair programs to Workhorse customers nationwide.

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The two companies will jointly provide maintenance service programs for electric and clean fuel technologies. In addition, they will work toward integrating operational, maintenance and fleet data into an accessible portal allowing for real-time tracking and expedited response times.

“The last mile delivery market requires solutions that optimize uptime. Partnering with Amerit, a leader in customized maintenance services, enables us to do just that,” said Workhorse CEO Rick Dauch.

“Our vehicles and connected insights, combined with Amerit’s mobile service network and innovative maintenance solutions, provides Workhorse with the ability to offer a comprehensive and customized EV experience for our customers,” he added.

Amerit’s CEO Dan Williams said: “Workhorse is a North American automotive technology leader, and we’re looking forward to supporting their customers by offering service programs across the US.”

Workhorse shares jumped to a high of $10.04 following the news. They are currently 0.31% higher, trading at $9.75.

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