![]() ![]() In October of last year, short-seller Fuzzy Panda Research alleged that Workhorse destroyed its chances of landing the USPS contract. The USPS commissioned five prototype postal service vehicles and Workhorse partnered with truck builder VT Hackney to produce their own.Īnalysts at BTIG said they saw Workhorse securing a portion of the USPS contract as a part of their base case scenario and held a "buy" rating on the company, per CNBC.īut now Oshkosh has secured the contract to make both fuel-efficient internal combustion engines and some battery-electric powertrains for USPS, leaving the pre-revenue EV startup Workhorse in a difficult spot. Jared Huffman (D-CA) introduced the Federal Leadership in Energy Efficient Transportation Act in 2019 the postal service finally had the backing to narrow in on a deal.įor a time, the electric vehicle maker Workhorse was thought to be a leader in the competition for the lucrative contract. The USPS had been looking for a partner to help modernize its fleet of postal vehicles since 2015, but when Rep. 1 billion contract with the USPS was for 99,150 vehicles in 1986 Postal Service ALL TRUCK. The USPS made the agreement an indefinite-delivery, indefinite-quantity (IDIQ) contract, meaning that after an initial dollar commitment, the Postal Service will be able to order more vehicles throughout the 10-year contract period.Īccording to Bloomberg Intelligence analyst Christopher Ciolino, the total contract could be worth more than $5.7 billion in revenue for Oshkosh. Used 1990 Grumman USPS LLV Stock 2200-12542 in New York. An initial investment of $482 million will help finalize the design of the new vehicles for mail and package delivery, and allow Oshkosh to assemble 50,000-165,000 vehicles over the contract period. Rather than acknowledge the clear driver errors, the USPS not only disingenuously directed the blame at Workhorse but has seized upon this incident as its. Why did Workhorse not get the USPS contract The unattended vehicle then rolled down a slope into the ditch. Wkhs Usps ContractPostal Services award of a roughly 6 billion contract Workhorse (ticker: WKHS) and Oshkosh (OSK) were among the bidders. Oshkosh makes military vehicles, fire trucks and ambulances. Why they are a top electric vehicle company I am looking at and has very little competition I discuss their e. The Loveland, Ohio-based Workhorse was stunned last week when the Postal Service awarded a 10-year contract initially worth 482 million to the Wisconsin company. The USPS awarded Oshkosh Defense the first part of a 10-year, multi-billion dollar contract to modernize the postal delivery fleet. Research on Workhorse Group and their stock. That’s higher than Workhorse’s peak market. A multi-billion-dollar USPS contract is at the. Postal Service’s awarding of a blockbuster truck-building contract to. Workhorse stock is up by a staggering 780 this year, which is a stark contrast to its financial performance. The contract has a total value of 6 billion. Workhorse stock climbs as lawmakers question USPS contract Workhorse Group rose as a House panel made plans to examine the U.S. The company's stock fell over 50% amid increased volatility after the news on Tuesday, triggering multiple trading halts before the stock recovered slightly, ending the day 47.5% lower. It was easy to see the USPS deal as potentially transformative for Workhorse and for WKHS stock. The company also announced it intends to build them at a new plant in Spartanburg, S.C.Workhorse extended its two-day slide to 57% on Wednesday after losing a coveted US Postal Service contract to Oshkosh Defense. Oshkosh says it can't comment on the suit, but that it looks forward to "getting these highly capable vehicles into the hands of mail carriers." It says it can deliver "any mix of gas powered or electric vehicles the postal service orders." Workhorse would likely build its vehicles in Ohio. Kaptur and two other Ohio Democrats have written to President Biden, asking him to take a look at the Oshkosh contract. "When you're going to be buying that level of vehicle, over 165,000 vehicles and only 10% of them are green," she says, "that doesn't really make sense to me. ![]() Kaptur says that's moving in the wrong direction. Why did Workhorse not get the USPS contract The unattended vehiclethen rolled down a slope into the ditch. Post Office on Tuesday awarded Oshkosh Defense a government contract to build the first large-scale fleet of modern delivery vehicles in 30. Who is bidding for the USPS contract The U.S. The WKHS stock price can go up from 7.510 USD to 15.420 USD in one year. Oshkosh makes military vehicles, fire trucks and ambulances. Will workhorse stock go up Will Workhorse Group stock price grow / rise / go up Yes. The Postal Service has said that 90% of the new Oshkosh delivery vehicles would be gasoline-powered, and only 10% would be electric vehicles, unless Congress provides it with the money to buy more EVs. The Loveland, Ohio-based Workhorse was stunned last week when the Postal Service awarded a 10-year contract initially worth 482 millionto the Wisconsin company. Business From Amazon To FedEx, The Delivery Truck Is Going Electric
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