House Democrats are asking the U.S. Postal Service’s inspector general to investigate the agency’s decision to replace its mail-truck fleet with almost all gasoline-powered models, a move that paved the way for a contract with Wisconsin military truck maker Oshkosh Corp. worth as much as $6 billion.
Workhorse Group Inc. plans to kill its flagship electric delivery van after a recall last year, turning instead to two new models after what its CEO called a “costly misstep.”
The U.S. Postal Service has finalized a contract to replace its mail truck fleet with almost all gasoline-powered models, drawing an angry response from Biden administration officials who unsuccessfully pushed the agency to buy electric vehicles instead.
Workhorse Group Inc. shares plunged Sept. 22 to their lowest since May after the embattled electric vehicle maker said it will suspend deliveries of its vans and recall units it has already delivered.
The delivery of new USPS trucks set for 2023 could be delayed.
The U.S. Postal Service didn’t give Workhorse Group Inc. a fair shot at a contract worth as much as $6 billion to build mail delivery vans, the maker of electric vehicles said in its challenge of the service’s decision to award the work to Oshkosh Corp.
Troubled electric truck startup Workhorse Group Inc. has become the latest darling of retail traders, who have pushed its share price up 83% in just three trading sessions.
Oshkosh Corp. executives cautioned investors that they lacked expertise in building electric vehicles several months before the company won a lucrative U.S. Postal Service contract to build next-generation mail-delivery vans with batteries or internal-combustion engines.
Workhorse Group Inc. rose after a U.S. lawmaker raised questions about a $54.2 million late-day block trade in competitor Oshkosh Corp. on the eve of a blockbuster U.S. Postal Service contract award.March 8, 2021
Workhorse Group Inc. said March 4 it sees a “prolonged process” as it attempts to challenge the loss of a massive U.S. Postal Service contract to build the agency’s next-generation fleet of delivery trucks.