Benzinga | Sep 2, 2021 01:06PM EDT

Another EV Truck Manufacturer Attracts SEC Probe: WSJ

* The SEC confirmed probing into electric delivery truck maker Workhorse Group Inc (NASDAQ:WKHS), the Wall Street Journal reports.

* The SEC is yet to elaborate on the investigation.

* It marks the regulator's fourth known investigation on an EV manufacturer in the past year.

* It is also the second involving a company started by Steve Burns, who founded Lordstown Motors Corp (NASDAQ:RIDE). Workhorse was an early investor in Lordstown Motors.

* The SEC and the Justice Department are also probing Lordstown Motors. The SEC had subpoenaed materials and information regarding Lordstown Motors' IPO deal and preorders for its pending electric pickup truck.

* The government has not contacted Burns regarding any of the investigations.

* Both Lordstown Motors, Workhorse have battled missed targets, executive turnover, and a cash squeeze in the last few years.

* Price Action: WKHS shares traded higher by 2.95% at $9.41 in the premarket session on the last check Thursday.