Along with ongoing challenges of maintaining a fleet of aging vehicles, there has been a
Where the business would get its working capital or funding for the transaction is unclear.The first product from the new, unnamed entity likely would be an electric pickup for commercial fleets, Burns said. The competitive bidding process for the USPS contract would lead to substantial losses for Workhorse to win the contract. All market data delayed 20 minutes.Gary Gastelu is FoxNews.com's Automotive Editor covering the car industry and racing.
The USPS said it has narrowed the field of finalists for designing the next-generation prototype from 15 companies down to six, and the winner will receive a multibillion-dollar contract… Fox News Flash top headlines for Oct. 1 are here.
Check out what's clicking on Foxnews.com
All market data delayed 20 minutes. The bulls see this as a further impetus for Workhorse to be awarded the USPS contract. The Postal Service is now considering splitting the contract among multiple manufacturers, This material may not be published, broadcast, rewritten, or redistributed. All rights reserved. This material may not be published, broadcast, rewritten,
Currently priced at $17.43, WKHS sports a rich market cap of $1.8B with no real revenues, solely based on aggressive future expectations.
or redistributed. Workhorse and VT Hackney could build their truck at an idled GM factory in Lordstown, Ohio, that Workhorse has been trying to acquire.
Turkish automaker Karsan is working with Morgan Olsen, a corporate descendant of Grumman. Workhorse and VT Hackney could build their truck at an idled GM factory in Lordstown, Ohio, that Workhorse has been trying to acquire.
©2020 FOX News Network, LLC. (Brian … Further, Workhorse Group is well cut out for the massive USPS contract. One of the four remaining companies is Workhorse, a struggling electric vehicle startup that has many of its eggs in the USPS contract basket.
Workhorse will get a cut of any sales of that truck and 1 percent of any equity raise that the startup, called Lordstown Motors, is …
Workhorse is focused on the commercial side of the EV industry, supplying electric-powered delivery vehicles for last-mile use.
©2020 FOX News Network, LLC. All rights reserved. Bears doubt that Workhorse can ever become a profitable vehicle producer to the extent that it would justify today's valuation.
Workhorse is well-positioned for the potential contract from the U.S.
…
Founded in … Ohio is a swing state, and Trump wants to get re-elected.
Not only does Workhorse have the technology to develop trucks for the massive USPS contract, it also develops cloud-based, real-time telematics monitoring systems … Follow
AM General builds many vehicles for the U.S. government, including the Humvee. Indian automaker Mahindra has promised to build a factory in Flint, Mich, to produce its NGDV proposal.
Ford and Oshkosh have teamed up on a modified version of the Ford Transit van. And the USPS has been on a …
The Grumman LLV, or “Long Life Vehicle,” was produced from 1987 to 1994 and had a projected 24-year lifespan.
It lacks air conditioning, anti-lock brakes, traction control and other modern technologies. Many Workhorse bulls are counting on the potential US Postal Service contract to be the panacea that cures all ills. So in any scenario, Workhorse loses, and the $1.8B bubble eventually will deflate. Components and engineering from the W-15 electric pickup that Workhorse has developed but not produced likely would underpin the truck.“If this gives us a chance to start on the 50-yard line and punch one in that’s great for every…
Workhorse is already selling their vehicles to major companies including UPS, DHL, and FedEx and they're looking to secure a contract with USPS.