I think market share will round out to about 20 by the. If the Post Office comes, yes, that’s a game changer. 23 awarded Oshkosh, a Wisconsin-based maker of military trucks, a 10-year contract for as many as 165,000 vehicles worth as much as 6 billion. Workhorse will win the USPS contract, and leverage first mover’s advantage to turn into one of the biggest players in the domestic market. In the former situation, WKHS stock soars over the next few years as. Hughes added "with or without the Post Office, we have a business here, and we have to focus on being able to build that business. Without the USPS contract, Workhorse loses a lot of that visibility and potentially cedes market leadership to a competitor. government’s fleet of roughly 650,000 vehicles with electric models.Īsked why USPS was not buying 90% EVs, DeJoy said: "We don’t have the three or four extra billion in our plan right now that it would take to do it." WASHINGTON - Electric vehicle company Workhorse Group voluntarily dismissed on Tuesday its legal challenge against a U.S. It also stipulates that the USPS should make an initial 482 million. Some environmentalists criticized the announcement after President Joe Biden in January vowed to replace the U.S. The 6 billion deal would see the defense contractor produce up to 165,000 new mail trucks. House panel last week that USPS has only committed to buy 10% electric vehicles in its next-generation delivery fleet. Electric vehicle company Workhorse Group voluntarily dismissed on Tuesday. The contract, which could be worth more than $6 billion in total, allows for delivery of between 50,000 and 165,000 of vehicles over 10 years that will be a mix of combustion-powered and electric vehicles. Workhorse voluntarily dismisses its legal challenge to USPS contract. Workhorse later argued that USPS's administrative. The company is unable to provide any further information with respect to this matter currently, but will provide updates when appropriate and as permitted. Workhorse shares rose 7.2% Monday to $17.34 on news of the meeting, but are still down 38% since last week's announcement. The 10-year contract announced in February could be worth more than 6 billion and allows for delivery of between 50,000 and 165,000 vehicles. On March 3, 2021, Workhorse met with USPS representatives to discuss the award and further specifics of the USPS selection process, the details of which cannot be disclosed at this time.
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