His decision to award the contract to Oshkosh, a company that specializes in military vehicles and has apparently never built an EV, is bound to be a controversial one. Workhorse, of course, wants to overturn the award made.
Now Workhorse (ticker: WKHS) is meeting with the USPS to discuss the bid. USPS Chief Executive Officer Louis DeJoy gained notoriety during the recent election for allegedly sabotaging his own agency’s performance in order to suppress mail-in votes. Shares fell more than 50 in the days following the contract award. Workhorse’s EVs are designed for last-mile delivery, and its current customers include UPS and FedEx Express. Postal Service’s business 3B USPS contract to replace 180,000-vehicle fleet Workhorse Group Stock Forecast: up to 39 WKHS - Workhorse Group Inc tumbled as much 25 Wednesday, leading the sector lower, after reports that the U tumbled as much 25 Wednesday, leading the sector lower, after reports that the U. Shares of Workhorse (Nasdaq: WKHS) dropped more than 50% on the news. The news was a crushing blow to the Workhorse Group, which had proposed an all-electric delivery vehicle, and was seen as the leading contender for the contract. Under the contract’s initial $482-million investment, Oshkosh will finalize the production design of the Next Generation Delivery Vehicle (NGDV), a purpose-built, right-hand-drive vehicle for mail delivery, and will assemble 50,000 to 165,000 of them over 10 years.ĭefying President Biden’s wish to electrify the US government’s vehicle fleet, the USPS announced that the new vehicles “will be equipped with either fuel-efficient internal combustion engines or battery electric powertrains and can be retrofitted to keep pace with advances in electric vehicle technologies.” Workhorse Group Inc Follow Nov 8 (Reuters) - Electric van-maker Workhorse Group (WKHS.O) said on Monday it was being investigated by the U.S. Posted Februby Charles Morris & filed under Newswire, The Vehicles.Īfter deliberating about a long-overdue modernization of its vehicle fleet for nearly a decade, the US Postal Service has awarded a 10-year contract to Wisconsin-based Oshkosh Defense to manufacture a new generation of postal delivery vehicles. Do your own DD if you are researching WKHS.Oshkosh beats Workhorse for USPS contract, new vehicles may use fossil fuel powertrains Postal Service (USPS) decision in February to award a. Such as: discussing how many people it takes to move a van in the yard, that the disappearing chassis' have been scrapped, that all of the big players with fleets of vans have written off WKHS as a valid supplier, that WKHS is hiring people as a ruse for investors to believe the company is moving forward, that the Board of Directors is playing the CEO, or that the company does not have a vehicle to sell. WASHINGTON, June 16 (Reuters) - Electric vehicle company Workhorse Group (WKHS.O) filed a legal challenge on Wednesday to the U.S. With nothing really negative to state, bashers are now resorting to just making up stories to cast WKHS in a bad light.
I have said for months that the Q3 and Q4 conference calls will really be telling as to how the new plan is coming together but, I still look forward to the Q2 conference call to get an early reading on where we are. The W750s should be entering production as soon as GP begins delivering EV Star chassis', it appears the C-1000 production has resumed with the disappearance of some 20 chassis' from the yard, and we are inching closer to Q4 which is when the W56 prototypes are due to be unveiled. So there really is nothing negative relative to Workhorse right now.
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