![]() As time goes on and the costs of these vehicles continue to fall, we fully expect that USPS will eventually increase the number of electric vehicles it buys. Postal Service (USPS) granted that company a 10-year contract to supply. To save money and protect our health, the Postal Service should go much further and electrify most of its fleet. For Workhorse, the opportunity to find a niche in a growing market comes after it lost out to Oshkosh Defense when the U.S. “This change pushes the envelope in the right direction, but it’s also not nearly enough. dropped 2.9 in premarket trading Tuesday, after the electric delivery trucks maker reported a wider-than-expected third-quarter loss and revenue that came up short. This page (NASDAQ:WKHS) was last updated on by Staff. The official website for the company is The company can be reached via phone at (888) 646-5205 or via email at. ![]() “The US Postal Service finally got the message that cleaner vehicles are a win all around,” writes Britt Carmon of the National Resources Defense Council. Workhorse Groups mailing address is 100 COMMERCE DRIVE, LOVELAND OH, 45140. Needless to say, EV advocates are welcoming this half-loaf but pushing for more. On MaWorkhorse met with USPS representatives. The agency appears to be leaving the door open to buying even more EVs in the future if financial conditions improve. After being informed of the USPS decision, the Company requested, pursuant to the bid process rules, additional information from the USPS. DeJoy has always insisted that he isn’t anti-EV-he just can’t justify the cost of full electrification. The agency also plans to buy more than 34,500 “commercial off-the-shelf delivery vehicles” over two years, “including as many BEVs as are commercially available and consistent with our delivery profile.” In total, USPS now says that at least 40% of the 84,500 vehicles it plans to buy will be EVs. USPS Louis Dejoy's recent update: "We will continue to look for opportunities to increase the electrification of our delivery fleet in a responsible manner, consistent with our operating strategy, the deployment of appropriate infrastructure, and our financial condition, which we expect to continue to improve as we pursue our plan.Now USPS has moved a bit further in the electric direction, telling Reuters that it proposes to purchase at least 25,000 EVs out of its initial order of 50,000 from Oshkosh (which has, to the best of our knowledge, never built an EV). Shares of Workhorse Group ( NASDAQ: WKHS) are now at the highest level of 2022 with the USPS decision last week to double its order of next-gen trucks to just over 10,000 still attracting investor attention. A drop in oil price is also adding to the positive turn in sentiment in the auto sector. Oshkosh USPS electric mail carrier (Source: Oshkosh) EV manufacturer Workhorse Group announced it is voluntarily withdrawing its legal challenge against the United States Postal Service (USPS. That includes ditching its NATO aspirations, refraining from developing nuclear weapons and hosting foreign military bases. Russia is no longer asking that Ukraine be "denazified" and is prepared to let the nation join the EU if it remains militarily non-aligned. This increase came on the back of higher truck sales, but if you pay attention to. Workhorse Group (WKHS +8.6%) shot up on Tuesday amid a strong day for the automobile sector overall.Īutomobile stocks broke higher with incremental progress in the Ukraine-Russia talks being reported. For 2020, Workhorse reported revenue of 1.4 million, an increase from the 0.4 million revenue reported for 2019. As it turned out, the coveted USPS contract ended up going to rival Oshkosh (NYSE: OSK) in late February.
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