Workhorse intends to explore all avenues that are available to non-awarded finalists in a government bidding process, the company said in a statement.
Workhorse shares were down about 10% in premarket trading on Wednesday. They had lost nearly half their value a day earlier after USPS said it would award the 10-year contract to Oshkosh Defense, a unit of Oshkosh Corp. The contract, which could be worth more than $6 billion in total, allows for delivery of between 50,000 and 165,000 of the vehicles over 10 years that will be a mix of combustion-powered and electric vehicles.
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Workhorse Group drops nearly 50% after EV company is passed over for USPS contractShares of Workhorse Group dropped more than 50% at one point on Tuesday after the company was passed over for a key contract from the U.S. Postal Service. say it with me 'OVER SOLD' $XL will win What happened to ALL EV GOVERNMENT FLEET? Cmon biden! Fire DeJoy! That’s a slap in the face! POTUS
Source: CNBC - 🏆 12. / 72 Read more »
Workhorse to meet USPS on March 3 to discuss unfavorable contract decisionWorkhorse Group Inc will meet with U.S. Postal Service on Wednesday to get more information on a multibillion-dollar contract that the electric-vehicle maker lost to Oshkosh Defense for making postal delivery vehicles. Will better service also be included? horrible we are supplying medical, surgical, FMCG & Solar Products at the least price to any project of companies & Trust's (NGO'S) up to $125 USD million. If any wants kindly contact in cell:+91-9952887012, email: SSCSIPL18GMAIL.COM Thanks SSCSIPL CEO
Source: Reuters - 🏆 2. / 97 Read more »
U.S. lawmakers urge USPS board to halt delivery vehicle contractThirteen U.S. House Democratic lawmakers on Monday urged the U.S. Postal Service's governing board to halt implementation of a contract that could be worth $6 billion to build up to 165,000 next-generation delivery vehicles.
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Biden's USPS board nominees aren't likely to oust embattled postmaster DeJoy, insiders sayAlthough opponents of Postmaster General Louis DeJoy hope that Thursday's board confirmation hearing could lead to his ouster, the embattled USPS chief appears safe. Nothing will fundamentally change Why -N -D -hell the POTUS can’t fire this guy?🤷🏾♂️The POTUS can fire all the heads of the intelligence services but the postmaster general is untouchable. We have between now and April 2022 to fix the Post Office or your vote will be impacted in November 2022. It's that simple.
Source: ABC - 🏆 471. / 51 Read more »
USPS selects Oshkosh Defense to build greener mail truckThe United States Post Office said Tuesday that it has chosen Oshkosh Defense to build its next-generation mail-delivery vehicle, part of an effort to make the USPS more environmentally friendly by switching a portion of its huge fleet to electric vehicles. Oshkosh Defense, a division of Wisconsin-based Oshkosh Corp., will assemble 50,000 to 165,000 of the new Next Generation Delivery Vehicles at its existing U.S. manufacturing facilities. USPS described the deal as the first part of a multibillion-dollar 10-year effort to replace its delivery vehicle fleet.
Source: YahooNews - 🏆 380. / 59 Read more »