And Workhorse Group is still in the running. After all, the postal service is still in desperate need of upgrading its ancient fleet of vehicles. Journalists on deadlines can easily reach the Media Relations team by phone or email around the globe and. The 1/4-ton utility 4x4 was the workhorse of Americas militaries from WWII. Agreement reached on pilot contract extension. The WKHS stock could still run higher again on the anticipation of a coming decision. offering shipping service from UPS, FedEx, and USPS 99 35 Peacekeeper. The local electric vehicle startup is working to bring its all-electric pickup truck, the Endurance, to production next year, but it has more manufacturing space than it currently needs in the 6.2-million-square-foot former General Motors Lordstown Assembly Complex, which it purchased in November. Remember, just because the contract was delayed doesn’t mean Workhorse Group is out of the running. Will workhorse get the USPS contract EV startup Workhorse has filed an official protest after losing the bid to make the United States Postal Services next-generation. The firm identifies a handful of secondary beneficiaries, including Workhorse’s “probable manufacturing site,” Lordstown Motors Corp., which Roth reported could “reasonably” expect $800 million in potential revenue from the contract. is a technology company, which is focused on providing solutions to the commercial transportation sector. In two days of frenzied trading, Workhorse’s stock then lost more than half its value, closing on Wednesday at 15.13, down 8 percent on the day, after a decline of 47 percent on Tuesday. Thus, if Workhorse wins the USPS contract, this will be a company that, by 2025, will be a distinguished leader in making electric delivery vans with an unmatched ability to manufacture these vans.
The USPS instead gave that contract to defense contractor Oshkosh. The Roth Capital report called Workhorse, one of three remaining applicants and the only one with an electric vehicle proposal, “the best fit” to win. EV startup Workhorse has filed an official protest after losing the bid to make the United States Postal Services next-generation mail vehicle in February, a contract that could ultimately be worth some 6 billion. That marks 90 days since the enterprises vying for the 165,000-unit contract submitted their requests and when Roth said USPS expected to announce its decision. Though the USPS contracting process has been delayed by the COVID-19 pandemic, an award could be announced as early as Tuesday, Oct. Postal Service’s next generation delivery vehicles, according to a Friday report from investment banking firm Roth Capital Partners. could see $800 million in potential revenue if Cincinnati-based electric vehicle maker Workhorse Group lands an $8.1 billion contract to supply the U.S. The company also announced it intends to build them at a new plant in Spartanburg, S.C.LORDSTOWN - Lordstown Motors Corp. Through USPS Connect Local, a business can have a package ready and its carrier. N) Production of a new generation of postal delivery vehicles. Postal Services decision in February to sign a multibillion-dollar, 10-year contract with Oshkosh Defense (OSK. O) filed a lawsuit Wednesday against the U.S. The USPS is to set to announce the NGVP contract winner by year end and we prove WKHS has already lost. WASHINGTON, June 16 (Reuters) Electric vehicle company Workhorse Group (WKHS. We agree and believe that downside will soon be reality. WASHINGTON (Reuters) -Electric vehicle company Workhorse Group voluntarily dismissed on Tuesday its legal challenge against a U.S. 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." According to BTIG analysis, the WKHS downside is to 1 a share (down 95+) if the USPS contract is lost. 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. 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. Business From Amazon To FedEx, The Delivery Truck Is Going Electric