Workhorse (NASDAQ:WKHS) stock is getting a boost on Wednesday after the zero-emission commercial vehicle company provided an update on its drone business.
According to a press release from Workhorse, drone business Workhorse Aero is making significant advancements. That includes working with the Federal Aviation Administration (FAA) to get the WA4-100 on the UPS Flight Forward FAA Part 135 drone list.
Workhorse is already training individuals to use its drones during UPS Flight Forward assignments. This would allow the drone to be used for commercial flights, such as package deliveries. It expects to be added to the list by the end of the year.
Rick Dauch, CEO of Workhorse, said the following about the news:
“We are making important progress with our Aero Business, and the steps we are highlighting today reflect the strength of our technology, our systems and our people […] We have clear growth strategies, and our team is focused on capturing the tremendous opportunities as we work to make last mile delivery more sustainable and more efficient.”
More Workhorse Drone News
On top of that news, Workhorse noted that it has received grants for its drone development. That includes $1.1 million in grants from the U.S. Department of Agriculture for farmland scanning. This brings the total grants received from the agency to over $2 million.
WKHS stock is up close to 1% on Wednesday morning.
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
