EV startup Workhorse faces Department of Justice probe

EV startup Workhorse faces Department of Justice probe


The Department of Justice has opened an investigation into struggling electric vehicle startup Workhorse, according to The Wall Street Journal. The probe is reportedly being led by the US Attorney’s office for the Southern District of New York, which often investigates financial crimes.

Workhorse is already part of an investigation from the Securities and Exchange Commission that first came to light in September, when short-selling research firm Fuzzy Panda released a report accusing the EV startup of fraud. It’s the third EV startup under investigation from both agencies, following Nikola (whose founder was indicted on fraud charges earlier this year) and Lordstown Motors (which Workhorse has deep ties, too). Both of those startups came…

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