Workhorse Group shares rise 11.31% intraday as company urges shareholder approval for Motiv deal to expand electric commercial vehicle business and avoid restructuring risks.

Workhorse Group surged 11.31% intraday, urging shareholders to approve the Motiv transaction ahead of its November 25 annual meeting. The deal aims to expand its medium electric commercial vehicle business and mitigate potential restructuring risks. Workhorse specializes in zero-emission commercial vehicle technology, designing and manufacturing electric delivery vans for last-mile logistics and similar applications.