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Workhorse Stock Plunges After Losing USPS Contract

Workhorse Stock Plunges After Losing USPS Contract

by The Editor
February 25, 2021
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“We don’t have the three or 4 additional billion {dollars} in our plan proper now that it might take to do it,” stated Mr. DeJoy, an appointee of former President Donald J. Trump whose choices — notably about mail dealing with throughout the 2020 election — have made him a political lightning rod. “However we’re completely happy to speak with the administration and with this Congress.”

Varied research have proven that falling battery costs and decrease upkeep prices have made electrical vans more and more aggressive with standard ones. And there’s a precedent for a speedy shift towards electrical supply vans. Amazon final yr ordered 100,000 customized electrical supply autos from Rivian, one other upstart.

Don Hillebrand, director of Argonne Nationwide Laboratory’s Power Methods Division, stated Oshkosh’s expertise with massive protection contracts for hardy, sturdy autos was in all probability an element within the Postal Service determination. Oshkosh can be a pacesetter in autonomous driving know-how, which may play a rising function in postal deliveries, he stated.

“Final cycle, they went with a car that may stretch for 30 stable years,” Mr. Hillebrand stated. “So seeking to the subsequent stage, they need the identical form of stability, capacity and adaptability.”

Nonetheless, the choice was extensively panned by environmental teams and different electrical car proponents.

“They began a course of six years in the past, however delayed, delayed, delayed. And after they got here to the top of the highway, as a substitute of claiming, ‘We have to rethink this,’ they decided that locks us into inner combustion engines,” stated Robbie Diamond, president of Securing America’s Future Power, a gaggle that advocates American power independence.

Mr. Diamond added that it was a missed alternative for america to meet up with China, which has jumped forward in electrifying buses and different car fleets. China has additionally come to dominate world provide chains for important element components required for electrical car manufacturing.

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