One of them is growing public sentiment toward clean energy solutions. There are myriad factors that bolster this assumption. Throughout much of last year, WKHS stock was the beneficiary of speculation that Workhorse will get the governmental greenlight. Why WKHS Stock Might Not Be the Frontrunner However, the USPS must also think about another kind of green (the economical variety), which makes the Workhorse narrative complicated. Hence, many are excited about the possibility of WKHS stock as the underlying company is the greenest. Indeed, it’s the only company among the three contests vying for the USPS contract – the others are Karsan and Oshkosh, which are teamed with Morgan Olson and Ford (NYSE: F), respectively – that is all-electric. To cut down on that expense, Workhorse has proposed an all-electric solution. Basically, it’s the last leg of a parcel’s journey that is the costliest. The constant acceleration and deceleration, combined with extended periods of sitting still, contributes to the last-mile problem in logistics. But this fact becomes extremely obvious under stop-and-go driving conditions. Instead, the executive team is busy evangelizing the benefits of EVs to replace combustion-engine based delivery trucks and vans.Īs you know, combustion vehicles aren’t the most efficient transportation platforms. Better yet, the disclosure provides stakeholders substantial confidence that management isn’t banking on any single contract materializing. On a year-to-date basis, shares are up over 26%. Not surprisingly, WKHS stock jumped dramatically higher on the news. The deal with the Ontario, Canada-based truck leasing and sales company is split between Workhorse’s C-1000 and C-650 models and is subject to various production and delivery conditions.” According to, the specialist electric vehicle manufacturer stated that “Pride Group Enterprises will buy 6,320 C-Series all-electric delivery vehicles. Traditional mail volumes have declined, while the service now delivers millions of packages from online retailers like Amazon that did not exist when the previous mail vehicle was introduced.Earlier this month, Workhorse won its largest delivery truck order, setting its 2021 off on the right note. The postal service last updated its mail-delivery trucks 30 years ago, and there have been major changes in the service’s operations since then. Shares of Workhorse fell more than 47% Tuesday. The choice of Wisconsin-based Oshkosh is a big miss for Ohio-based electric vehicle startup Workhorse Group, which put in an all-electric bid for the vehicles. USPS described the deal as the first part of a multibillion-dollar 10-year effort to replace its delivery vehicle fleet. It will get an initial $482 million toward retooling and building out its factory.
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. WASHINGTON (AP) - The 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.
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