Workhorse requests more information from USPS on award decision
- Workhorse intends to explore all avenues that are available to non-awarded finalists in a government bidding process.
- The contract, which could be worth more than $6 billion in total, allows for delivery of between 50,000 and 165,000 of the vehicles over 10 years that will be a mix of combustion-powered and electric vehicles.
Electric vehicle maker Workhorse Group Inc said on Wednesday it had requested more information from the US Postal Service after it lost a multibillion-dollar contract to Oshkosh Defense for making a new generation of postal delivery vehicles.
Workhorse intends to explore all avenues that are available to non-awarded finalists in a government bidding process, the company said in a statement.
Workhorse shares were down about 10% in premarket trading on Wednesday. They had lost nearly half their value a day earlier after USPS said it would award the 10-year contract to Oshkosh Defense, a unit of Oshkosh Corp.
The contract, which could be worth more than $6 billion in total, allows for delivery of between 50,000 and 165,000 of the vehicles over 10 years that will be a mix of combustion-powered and electric vehicles.
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