next-generation delivery vehicle

Surprise! 20% of Postal Service’s first vehicle order is electric

USPS places initial order for electric vehicles

The U.S. Postal Service has placed its first official order for its next-generation delivery vehicle (NGDV) with Oshkosh Defense, it announced Thursday. That order, for 50,000 vehicles, includes 10,019 battery-electric vehicles, up from an original estimate of 5,000 vehicles.

“We are pleased to be moving forward with this much needed investment in our fleet,” Postmaster General and CEO Louis DeJoy said in a statement. “Since I came on board a year and a half ago, we have continuously evaluated...

https://www.freightwaves.com/news/surprise-20-of-postal-services-first-vehicle-order-is-electric

Return to sender? Postal Service’s next-gen vehicle faces fresh criticism

The long-running saga that is the U.S. Postal Service’s next-generation delivery vehicle (NGDV) continues to generate controversy, almost a year after the agency issued a contract for the program.

On Feb. 23, the Postal Service concluded the final regulatory hurdle to set in motion delivery of what could ultimately be 165,000 vehicles from Oshkosh Truck Corp. (NYSE: OSK) over 10 years. The first of the vehicles are expected to arrive in 2023 and replace the agency’s current long-life vehicles,...

https://www.freightwaves.com/news/return-to-sender-postal-services-next-gen-vehicle-faces-fresh-criticism

Workhorse reviews electric van designs, distances itself from Lordstown Motors

Workhorse Group delivered 14 electric delivery vans to customers in the second quarter but it is going back to the drawing board to figure out how to add more cargo capacity before it resumes ramping up production.

In many ways, the Workhorse (NASDAQ: WKHS) earnings report for the April to June period resembled previous quarters — a tale of delays and supplier issues.

After ousting CEO Duane Hughes in favor of former Delphi Technologies CEO Rick Dauch, the Cincinnati-based company said it is...

https://www.freightwaves.com/news/workhorse-reviews-electric-van-designs-distances-itself-from-lordstown-motors

Short squeeze? Workhorse Group stock again a retail trader plaything

Until a reversal on Friday, the share price of Workhorse Group (NASDAQ: WKHS) had been skyrocketing, adding 59% to its value in the past two months.

Nothing is happening in the business to drive such appreciation. If anything, the clock is ticking before competitors in the electric delivery van space catch and overtake Workhorse, which struggles with myriad production issues.

As a meme stock like retailer GameStop Corp. (NYSE: GME) and more recently AMC Entertainment Holdings (NYSE: AMC),...

https://www.freightwaves.com/news/short-squeeze-workhorse-group-stock-again-a-retail-trader-plaything

Oshkosh takes victory lap over Postal Service delivery truck contract

Oshkosh Truck Corp. (NYSE: OSK) can make 100% battery-electric delivery trucks for the U.S. Postal Service, undercutting an assertion by Workhorse Group (NASDAQ: WKHS) that being its passed over for the contract dooms the mail service to remaining a source of planet-warming greenhouse gas emissions.

Not so, Oshkosh President and CEO John Pfeifer told analysts on the company’s fiscal second-quarter earnings call Wednesday.

“We can do 100% electric vehicles from Day One,” Pfeiffer said. “If the...

https://s29755.pcdn.co/news/oshkosh-takes-victory-lap-over-postal-service-delivery-truck-contract

More Postal Service money could revive Workhorse mail truck bid

Seventeen House Democrats introduced a bill Monday that would give the U.S. Postal Service an additional $6 billion to assure next-generation mail trucks run on electricity.

If the bill passes, it could revive a failed bid by electric delivery van maker Workhorse Group (NASDAQ: WKHS) to win the initial contract for Next Generation Delivery Vehicles.

Some key Democrats back the legislation. They include Rep. Peter DeFazio of Oregon, who chairs the Transportation and Infrastructure Committee, and...

https://s29755.pcdn.co/news/more-postal-service-money-could-revive-workhorse-mail-truck-bid

Workhorse lawyers up in mail truck contract dispute with Postal Service

Workhorse Group (NASDAQ: WKHS) expects a “prolonged process” to alter the U.S. Postal Service’s decision to award next-generation mail truck business to defense contractor Oshkosh Truck Corp. (NYSE: OSK).

The Loveland, Ohio-based Workhorse was stunned last week when the Postal Service awarded a 10-year contract initially worth $482 million to the Wisconsin company. Oshkosh makes military vehicles, fire trucks and ambulances.

The Next Generation Delivery Vehicle (NGDV) business came down to three...

https://s29755.pcdn.co/news/workhorse-lawyers-up-in-mail-truck-contract-dispute-with-postal-service

Workhorse may fight mail truck order awarded to Oshkosh

Workhorse Group (NASDAQ: WKHS) will meet face-to-face with the U.S. Postal Service on Wednesday and may fight to be included in the program for next-generation mail delivery trucks.

The Cincinnati-based company was stunned last Tuesday when the Postal Service awarded a 10-year contract worth an initial $482 million to defense contractor Oshkosh Truck Co. (NYSE: OSK) for the Next Generation Delivery Vehicles.

“This is not the result we had anticipated or hoped for,” Workhorse CEO Duane Hughes said...

https://www.freightwaves.com/news/workhorse-may-fight-mail-truck-order-awarded-to-oshkosh

Workhorse share collapse raises pressure on debt repayment

Workhorse Group Inc. (NASDAQ: WKHS) continued to lose investors Wednesday, a day after it was left out of a multibillion-dollar U.S. Postal Service contract to make next-generation mail delivery vehicles.

The Postal Service awarded a 10-year contract to defense contractor and off-highway equipment manufacturer OshKosh Truck Corp. (NYSE: OSK) on Tuesday. Day traders and several analysts felt the contract was Workhorse’s to lose.

Workhorse “intends to explore all avenues that are available to...

https://s29755.pcdn.co/news/workhorse-share-collapse-raises-pressure-on-debt-repayment

Oshkosh beats Workhorse for Postal Service delivery vehicle contract

Defense contractor Oshkosh Truck Corp. (NYSE: OSK) won a 10-year contract to build next-generation delivery vehicles (NGDVs) for the U.S. Postal Service, beating out electric delivery van maker Workhorse Group Inc.

Day traders had driven Workhorse (NASDAQ: WKHS) shares to record levels in recent months, anticipating that at least a piece of the multibillion-dollar contract would be awarded to the company. It was one of three finalists. The Postal Service delayed awarding the contract for several...

https://s29755.pcdn.co/news/oshkosh-beats-workhorse-for-postal-service-delivery-vehicle-contract