WASHINGTON, Sept 14 (Reuters) – Electric vehicle company Workhorse Group (WKHS. O) voluntarily dismissed on Tuesday its legal challenge against a U.S. Postal Service (USPS) move to award a multibillion-dollar contract to Oshkosh Defense (OSK. N) for delivery vehicles.
Similarly, Is WKHS undervalued?
Is Workhorse Group Inc Stock Undervalued? The current Workhorse Group Inc [WKHS] share price is $3.75. The Score for WKHS is 21, which is 58% below its historic median score of 50, and infers higher risk than normal. WKHS is currently trading in the 20-30% percentile range relative to its historical Stock Score levels.
How workhorse can survive? Workhorse has bled money for years but was able to survive thanks to loans from hedge funds and by selling off parts of its business. The best example of that is Lordstown Motors, an electric pickup truck startup created by former Workhorse CEO (and founder) Steve Burns.
Thereof, Will Oshkosh get USPS contract?
Oshkosh Defense won the contract in February 2021 to produce 50,000 to 165,000 gasoline- and electric-powered NGDVs for USPS, estimated to be worth more than $11 billion.
What is happening with workhorse?
Workhorse Group (WKHS) Reports Q4 Loss, Misses Revenue Estimates. Workhorse (WKHS) delivered earnings and revenue surprises of -707.14% and 884.04%, respectively, for the quarter ended December 2021.
How much does a workhorse truck cost?
Workhorse unveils its plug-in electric W-15 pickup truck: $52,000 and 60 kWh battery pack. Last month, Workhorse showed the chassis and plug-in hybrid powertrain of its upcoming electric truck and this week, it unveiled the whole thing.
Is workhorse done?
Loveland-based Workhorse Group has inked a multi-year supply agreement with a Canadian manufacturer as it plans to cease production on its flagship vehicle following a costly recall announced late last year.
Will workhorse go up?
Will Workhorse stock go up? Nobody can predict with 100% accuracy what a stock’s price will do in the future. However, algorithm-based predictions from Wallet Investor see the price of Workhorse rising in 2022, 2023 and 2025.
Who got USPS EV contract?
For a while, it looked like the new fleet might be made up of mostly electric vehicles, but when the contract for the new mail trucks was awarded to Oshkosh Defense in the spring of 2021, the USPS said only 10 percent of the new mail trucks might be electric.
Why did Oshkosh get USPS contract?
The U.S. Postal Service has awarded Oshkosh Defense the contract to replace the aging Grumman LLV trucks that are currently delivering mail across the country. The contract includes an initial $482 million investment from the USPS to finalize the design of the Next Generation Delivery Vehicle (NGDV).
Who wins USPS truck?
In February, the U.S. Postal Service awarded a deal for up to 165,000 new mail trucks worth up to $6 billion to defense contractor Oshkosh. The search for new delivery vehicles took the USPS around seven years, and once the Internet learned what the quirky new van would look like, much merriment ensued.
Do USPS drivers use their own cars?
The U.S. Postal Service has almost 80,000 rural delivery routes serviced by some 133,000 rural letter carriers. For some of those routes, USPS provides the vehicle; for others, the carrier uses a private vehicle and receives a maintenance allowance from the Postal Service for wear and tear.
Who is manufacturing new USPS trucks?
On February 23, 2021, USPS announced that Oshkosh Defense has been awarded the contract for design and manufacture of the Next Generation Delivery Vehicle (NGDV), delivering up to 165,000 over a 10-year period.
What companies does Oshkosh own?
Oshkosh Corp. manufactures, distributes, and services products under the brands of Oshkosh, JLG, Pierce, McNeilus, Jerr-Dan, Oshkosh Specialty Vehicles, Frontline Communications, London Machinery Inc., and IMT.
Will workhorse stock go up?
Struggling electric vehicle (EV) maker Workhorse Group (WKHS) has seen its stock price rise 42% over the last week and today (22 March) is priced at $4.43. Sentiment has turned towards tech stocks with the Nasdaq Composite rising 8% in that time.
…
Workhorse stock news.
| Long position overnight fee | -0.0225% |
|---|---|
| Spread | 1.91 |
Why did WKHS drop?
Workhorse also said the newly announced testing should be completed in the fourth quarter of 2021. Much of the source of the stock’s decline this year came in February when the company lost out on a bid for a 10-year contract with the U.S. Postal Service for new-energy vehicles.
Is Workhorse a selling truck?
Workhorse will get 1,500 cabs and chassis that it will fit with its battery-electric system and sell in North America as the W750 step van beginning in Q3.
What company makes Workhorse trucks?
Workhorse Group Inc. is an Original Equipment Manufacturer (OEM) of Class 3-6 Workhorse brand medium-duty truck chassis.
How much does a UPS van cost?
UPS isn’t saying what it’s spending, but assuming each van costs about $40,000, the base price of a conventional Mercedes-Benz Sprinter model, the deal could be worth $400 million or more. The plan is also contingent on successful tests of the first batch of vans, UPS says.
Why did WKHS stock drop?
Workhorse also said the newly announced testing should be completed in the fourth quarter of 2021. Much of the source of the stock’s decline this year came in February when the company lost out on a bid for a 10-year contract with the U.S. Postal Service for new-energy vehicles.
Join TheMoney.co community and don’t forget to share this post !
