Workhorse stock rises in premarket trading


Workhorse stock rises as it receives a patent for a land vehicle system.

Workhorse Group received U.S. patents for impact management systems in land vehicles and land vehicles modified for use as electric delivery vans.

Workhorse Group (NASDAQ:WKHS)

The United States Patent and Trademark Office has granted Workhorse Group (NASDAQ:WKHS) a patent for land vehicles with impact management systems. The patent was first submitted on December 9, 2021.

A land vehicle includes a frame structure, a plurality of wheels, and an impact management system. The frame structure includes an operator cage that at least partially defines an operator cabin and a rear compartment positioned rearward of the operator cage in a longitudinal direction.

The 0.95% rise in premarket trading to $3.19 and is currently on a little upswing with a 5.69% gain over the past week.

Secure agreement

On September 7th, Workhorse Group purchased a new eAxle system from Linamar Corporation (TSX: LNR), according to an announcement made by the company. The eLIN Group of Linamar created the Medium Duty beam axle propulsion technology.

This contract, Linamar’s first significant eAxle deal with a commercial vehicle OEM, builds on the company’s prior success in the eAxle market for light vehicles. The full beam eAxle system’s Tier 1 supplier will be Linamar.

The Canadian advanced manufacturing firm claimed that this was its first significant agreement with a commercial vehicle OEM for the beam axle propulsion system and that it would become Workhorse’s tier 1 supplier for the entire beam eAxle system. Financial information about the contract was withheld by Linamar.

The cutting-edge technology and extensive manufacturing know-how at Linamar Corporation (TSX: LNR), an advanced manufacturing business, are used to create solutions that will power future cars, motion, work, and lives.

Featured Image – Megapixl © Transversospinales

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