2021-03-01 · Workhorse CEO Duane Hughes said the EV startup will meet with the United States Postal Service on March 3rd after it lost the bid to build the new-generation mail truck.

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Workhorse Group was one of the top four finalists being eyed by USPS for the ten-year contract. The contract is estimated to be worth $6.3 billion. USPS announced on February 23, 2021, that it had awarded the ten-year contract to Oshkosh Defense. 2021-02-01 2021-02-25 The outlook for Workhorse stock could be bright if it secures the USPS contract. The USPS is looking forward to upgrading its aging fleet of mail trucks. Currently, the roughly $6.3 billion fleet 2020-10-08 2020-10-30 2021-01-09 2021-02-18 Stock in Workhorse, the only contract bidder offering an all-electric option, was on Wednesay.

plant in Union City, Indiana. Workhorse would in turn own a minority stake in Lordstown Motors. Burns told the Detroit News last week that he’s looking to raise $300 million to back the effort. Tom Colton, an outside spokesman representing Workhorse, said its plans for Lordstown aren’t contingent on winning the Postal Service contract. News • Mar 29, 2021. Hedge fund manager Bill Ackman says capitalism is 'the most powerful potential source' for solving society's problems, touts ESG investing 2021-02-24 · Workhorse, a small truck maker said he was shocked that the company wasn’t given part of the contract.

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Figuring out if Workhorse will be Shares of Workhorse Group [WKHS] dropped 8.3% in extended trading after falling nearly 50% on Tuesday. The massive selling in WKHS stock came after the electric delivery van maker lost a multi-billion dollar U.S. Postal Service (USPS) contract to rival, Oshkosh Corp. The winner [OSK] finished up 7%.

The United States Postal Service revealed last month that it had chosen Oshkosh Defense to make the next USPS mail truck, which meant that Workhorse, another bidder for the contract, lost. And

Workhorse production woes. Burns founded Amp Electric in 2007. It changed its name to Workhorse in 2015 after acquiring a former Navistar International Corp.

Workhorse Group was one of the top four finalists being eyed by USPS for the ten-year contract. The contract is estimated to be worth $6.3 billion. USPS announced on February 23, 2021, that it had awarded the ten-year contract to Oshkosh Defense. 2021-03-08 · Why Workhorse Group Stock Jumped 30% Today The company may have gotten more help over the weekend in its fight for a USPS truck contract.
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Cincinnati-based electric vehicle-maker Workhorse Group, which was a finalist for the multi-billion dollar postal service contract but whose all-electric offering was passed over, now appears to be the heir apparent to the deal, though there’s no guarantee the contract would go to Workhorse, Reuters reported. Workhorse stock is set to fly if they get any portion of this USPS NGDV contract.

Workhorse raised a ton of money in 2020 To that end, Hughes and Schrader spoke at length about how Workhorse now has more than 8,000 orders for its commercial electric delivery trucks and how it New USPS funding bill may give Workhorse an opportunity for $6B contract. The bill would earmark $6 billion for the U.S. Postal Service to modernize its fleet, and require electric or zero-emission vehicles make up at least 75 percent of the new fleet, according to Reuters.
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Workhorse raised a ton of money in 2020 To that end, Hughes and Schrader spoke at length about how Workhorse now has more than 8,000 orders for its commercial electric delivery trucks and how it

Amid heightened volatility, the stock was Workhorse Group rose as a House panel made plans to examine the U.S. Postal Service’s awarding of a blockbuster truck-building contract to Oshkosh Corp. and another lawmaker raised questions about 2020-12-22 · USPS is replacing the white, right-hand drive, and delivery trucks with the Next Generation Delivery Vehicle (NGDV). It will purchase about 180,000 vehicles will be purchased over five to seven 2020-12-03 · The USPS is in the process of replacing its iconic yet aging white right-hand-drive delivery trucks and Workhorse is the only contract bidder left offering an all-electric option. Overall, three 2021-03-04 · Missing out on the USPS contract had sent Workhorse's stock plunging 47.5% on Feb. 23 to $16.46, and the stock has lost another 18.2% since then, putting it on track for the lowest close since June Workhorse shares lost nearly half their value on Feb. 23 after USPS said it would award Oshkosh Defense, a unit of Oshkosh Corp, the 10-year contract. Workhorse shares rose 7.2% Monday to $17.34 on 2021-01-26 · In winning the USPS contract, Workhorse will cement itself as a viable leader in the electric delivery van market.

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If Workhorse wins the USPS contract, the company would need to make a lot of changes in order to effectively compete in an increasingly crowded EV delivery van sector If Workhorse somehow won even part of the USPS contract then they do not have the facilities, equipment, or expertise to fulfill it according to USPS requirements and expectations," reads the report. Stock in Workhorse, the only contract bidder offering an all-electric option, was on Wednesay. Shares were off about 21%, falling to $19.83 near midday. It is a steep drop, but the higher stocks Related Link: Workhorse CFO Steve Schrader On The Status Of The USPS Contract Why It’s Important: The USPS is set to award a $6 billion contract for 180,000 delivery vehicles. Workhorse Group is It was widely expected that USPS contract decision will take place on October 13, but Workhorse today announced that it has entered into a note purchase agreement under which it will sell almost $200M aggregate principal amount of its 4.0% Senior Secured Convertible Notes due 2024 to two institutional lenders.

In winning the USPS contract, Workhorse will cement itself as a viable leader in the electric delivery van market. At the same time, thanks to the USPS partnership, Workhorse will likely be able to A particular prospect that raised its share price from less than $2 in March to more than $40 this month was its bid for a big contract from the United States Postal Service to start replacing the Workhorse shares are down nearly 50 percent after losing the deal for a new fleet contract with the USPS.