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DOJ investigates electric car manufacturer Workhorse



(Reuters) – The electric van manufacturer Workhorse Group Inc. is being investigated by the US Department of Justice, the Wall Street Journal reported on Friday, citing documents reviewed by the newspaper.

The focus of the investigation was not revealed. in the document, the report said. The company's shares fell 10.4% to $ 6.47 after the report.

Workhorse and DOJ were not immediately available for comment.

The DoJ investigation contributes to Workhorse's misery, with the company already being investigated by US Securities and Exchange Commission, according to a letter from the regulator published by a short seller in September.

That same month, Workhorse, an early investor in Lordstown Motors, said it would suspend deliveries of its flagship C-1

000 electric van, saying more tests and modifications were needed to ensure it complied with regulatory standards.

month, the electric car maker said on September 30 that two of its top executives, including chief financial officer Steve Schrader, had left the company and it had hired new people as part of a management rally to support its commercial goals.


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