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Is workhorse get usps contract

Postal Service as early as the second half ofaccording to Roth Capital Partners. Workhorse is about to commence production of the C-Series trucks, which should increase visibility for executing the backlog of orders from United Parcel Service, Inc.

See his track record here. Workhorse is well-positioned for the potential contract from the U. Postal Service for its Next Generation Delivery Vehicle, which could be for as many asvehicles, the analyst said. Benzinga does not provide investment advice. All rights reserved. Out on Wall Street, elections are the talk of the town. Against this backdrop, fears of a blue wave a Democrat-controlled presidency, Senate and House are washing onto the Street.

However, Goldman Sachs believes a blue wave might not be such a bad thing for the U. Bearing this in mind, our focus shifted to two stocks flagged by Goldman Sachs as strong value plays.

is workhorse get usps contract

General Electric GE First up we have General Electric, which has been a pioneer in the transportation, power, environmental and healthcare industries for the last years.

According to Goldman Sachs, the future looks bright for this name. Admittedly, we might be a little early on the turn in the stock, but we believe we are at a bottom from both a fundamental and sentiment perspective, and that is typically the best time to own industrial cyclicals.

To this end, the analyst thinks HSD industrial free cash flow margins could be achieved by However, these expectations could be conservative should commercial aerospace rebound more quickly than Ritchie anticipates. Writing for the firm, analyst Terence Flynn points to its lead candidate, MRT, a codon-optimized human CFTR mRNA, which is formulated in lipid nanoparticles that are delivered via a nebulizer, as a key component of his bullish thesis.

Looking at early clinical data, the asset generated an initial signal of clinical activity. Despite the early nature of the data, Flynn sees the next data readout, which is slated foras a major possible catalyst. VRTX has developed several oral drugs called CF correctors or potentiators, that when used in combination improve the function of the existing CFTR protein in the majority of CF patients and thus, drive improved outcomes, which has made them the standard of care. To this end, data could come by 1HAll rights reserved.

Charles St, Baltimore, MD Two key catalysts, either of which could send this development-stage company into hyperdrive, have been a played a role as well. Yet, while positive news from either one would put points in the stock, there is a major caveat. Neither catalyst is a slam dunk for the company. With these factors in mind, the easy money has already been made with this EV play. That is to say, its bid for the U. The post office is looking to bring its fleet into the 21st century, after it selects a manufacturer to build its Next Generation Delivery Vehicle NGDV.

Yet, given the USPS could split the contract among multiple bidders, and this company having the sole electric-only contender, it could wind up with a piece of the action. The battery alone may cost as much as the sticker price for the entire finished product. Granted, there are merits for this deal being a loss leader for Workhorse.

The social proof from winning the contract could help boost its commercial market sales. And not just the potential from the USPS deal. As I wrote earlier this month, the company has big involvement with Lordstown Motors. It also swapped its electric pickup truck intellectual property in exchange for future licensing fees. Yet, there are no guarantees. The bubble in SPAC stocks could soon take a breather.

So could the enthusiasm for EV stocks.

Workhorse Group Could Be a $26 Stock by Next Year

Also, what about the underlying prospects of Lordstown? Its debatable whether its electric truck can take on the competition from Tesla and Nikola. Sure, the company has other coals in the fire, like its line of HorseFly drones.After years of delays, the U.

The deadline for four separate company teams to provide contract proposals to build the new truck passed on July The Postal Service told Trucks. It also is looking at splitting the giant order between multiple parties.

is workhorse get usps contract

While several foreign companies are bidding for the business, the contract calls for the mail truck to be assembled in the U. When it launched the process to replace its main delivery truck, the agency said it expected to have a contract in place by now. But the program has been hampered by multiple delays with the Covid pandemic making up the most recent.

The post office now uses aboutGrumman Long Life Vehicles for its main delivery service.

Workhorse Stock Fraud? USPS contract date! - WKHS analysis \u0026 news

Manufactured from throughthey need to be replaced. A audit from the office of the USPS inspector general found that the current fleet was expected to only meet the delivery needs of the agency through the fiscal year. The current trucks lack essential functions such as air conditioning, airbags or anti-lock brakes. They are too small to accommodate the e-commerce packages that make up the bulk of the mail today.

The vehicle is a custom body manufactured by Grumman mounted on a Chevrolet truck chassis that the automaker stopped making ages ago.

Maintenance workhours required to keep its entire fleet on the road rose 2. The measure rose by 3. The old aluminum-bodied trucks also are fire-prone. At least 14 of the U. That makes fires since At least for separate teams are in the running. Each has previously has provided prototype vehicles to the Postal Service for evaluation. There are just three teams left, but one of the teams has split up. The team has offered a plug-in hybrid engine option for the new mail truck. Mahindra Automotive North America was another but pulled out in the past week, according to the Postal Times.

Mahindra was offering a gasoline or mild-hybrid powertrain option, according to government filings. But it said VT Hackney has dropped out of the project, leaving Workhorse to continue on its own. The fourth team, specialty truck- and military vehicle maker, Oshkosh Corp. They based their internal combustion engine entry on the Ford Transit cargo van.

The article has been updated to reflect that development with a credit to the Postal Times, where it was reported. T Hackney did not withdraw, they were bought out by Workhorse and Workhorse took over the prototype.

This happened months ago, they paid them and split on good terms. Now workhorse has big brother lordstown if they need help building. The article has been updated to reflect Workhorse is still bidding and there is a link to a Workhorse SEC filing with some minimal detail.

Fake News we have been waiting for new delivery vehicles for years. What has Congress done with all the money!!!!! Where are all the honest good Journalists that ask and find out these answers! Maybe the next thing to write about? I was really hoping Mahindra would have hung in there and gotten at least a piece of the contract to give them a presence here in the U.

Ford will probably get a bulk of the contract with one the other two getting a smaller piece.All rights reserved. Charles St, Baltimore, MD While the Cincinnati based company attempts to carve out a corner of the EV market, it faces high hurdles.

Workhorse is currently gaining attention for its delivery van and drone combo. The numbers and denote the cubic footage of cargo space in each respective vehicle. The drone that pairs with the delivery van is called the Horsefly. Workhorse discontinued plans for that vehicle in March.

is workhorse get usps contract

The truck was called the W Thus, Workhorse is moving forward and hedging its bets on its ability to succeed with the van and drone solution. Sales ultimately drive everything in business. Workhorse however, being an upstart, growth company cannot be expected to have massive sales just yet.

Nevertheless, those investors do need to know what sales really look like.

Postal Service to Start Negotiations for Giant Mail Truck Contract

Investors could be taken aback by such a small number. We have delivered their first two Cs and are very excited to partner with them in offering our electric C-Series vehicles to their customers across the country.

We are confident that we will be seeing new orders soon once their customers see the revolutionary nature of our products are and how accessible they are through Ryder.

Customers have expressed interest in Workhorse vehicles, but nothing has been proven yet. Further, one important detail here is that Workhorse delivered only two C vans to Ryder so far. None of this is to cast aspersion on Workhorse. Rather, the point is that this is essentially a small scale, pilot-project. Investors keen to gamble on Workhorse shares though should search for further information about this as the project gets underway. Perhaps it will lead to a scaling up for Workhorse, perhaps not.

Workhorse Has Huge Opportunity With USPS, Analyst Says In Bullish Initiation

This is where potential Workhorse investors should really pay special attention. The U. Postal Service is upgrading its aging fleet. Workhorse is one of four remaining potential suppliers to replace the fleet vehicles. The deadline for proposal submissions passed on July The vehicle that Workhorse submitted for testing back in was created jointly with another firm.

But Workhorse discontinued business dealings with that firm. So, while Workhorse remains among the four finalists who submitted a proposal, questions remain regarding their actual vehicle. So, maybe the company will see some successes with its Ryder pilot program and that may scale up.

Perhaps Workhorse will win a portion, or all of the Postal Service award. Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks. Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.

As of this writing, Alex Sirois did not own shares of any of the aforementioned securities.All rights reserved. Charles St, Baltimore, MD Anything involving the electrification of vehicles is moving higher. Should you jump on the bandwagon?

Although the USPS is suffering from financial hardship, the vehicles it has now are between 26 and 33 years of age. The Postal Service originally asked four companies, including Workhorse, to provide contract proposals by March That deadline, due to the novel coronavirus and Covid, was pushed back to July The contract could require the production of as many asnew trucks.

The other three companies in the running, including Karsana Turkish manufacturer of commercial electric vehicles, and Mahindra Automotive North Americawho have a gasoline and hybrid option.

The competitors are an impressive bunch, so it all comes down to whether the Postal Service wants to be innovative in its thinking or will it follow a more conventional path, which is how it got into such a sorry state in the first place. Also, Workhorse has a couple of other irons in the fire — HorseFly delivery drone and partnership with Lordstown Motors — that should keep it busy for the next 12 to 24 months. WKHS stock is a very attractive speculative buy. I say speculative only because its revenues are still small.

New U.S. Postal Service truck contract worth $6.3 billion may be awarded in 2020

He points to the large amount of electricity needed for battery-powered electric trucks, as well as the size and efficiency of those batteries compared to fuel cell-powered hydrogen trucks.

If hydrogen-powered trucks can go much further on a single charge relative to battery-electric vehicles, and the time it takes to refuel the vehicle is considerably less, most businesses would lean heavily toward a fleet of the former rather than the latter. As I said in the previous section, WKHS stock remains a speculative bet and should be treated as such. However, while I think my colleague makes several good points, the fact that Workhorse made it into the final four in the USPS contract suggests the company has got its act together.

Will Ashworth has written about investments full-time since He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. Log in. Log out. About Us Our Analysts. Sponsored Headlines. More from InvestorPlace. Stocks to Buy Trump vs. Subscriber Sign in Username. Sign in. Having trouble logging in?Fox News Flash top headlines for Oct. Check out what's clicking on Foxnews.

The new mail trucks are going to arrive a little later than expected. Ford and Oshkosh have teamed up on a modified version of the Ford Transit van.

is workhorse get usps contract

Brian Williams. The U. Turkish automaker Karsan is working with Morgan Olsen, a corporate descendant of Grumman. However, prototype testing and evaluation stretched into and the Postal Service now says it will be requesting final proposals from the remaining candidates this year in anticipation of issuing a production contract -- or contracts -- in It lacks air conditioning, anti-lock brakes, traction control and other modern technologies.

Along with ongoing challenges of maintaining a fleet of aging vehicles, there has been a spate of fires in recent years, the cause of which remains unclear. A specific powertrain is not specified, but the Postal Service said it will be choosing the vehicle that offers the best overall value.

AM General builds many vehicles for the U. The Postal Service is now considering splitting the contract among multiple manufacturers, according to Trucks. Details on the proposals are secret, but prototypes of five have been spotted during field tests this year.

An electric drive supplier that had been working with AM General announced it was dropping out of the process last year, but AM General has not responded to requests from Fox News Autos about the status of its project.By creating an account, you agree to the Terms of Service and acknowledge our Privacy Policy. Postal Service contract for its next-generation mail trucks. Workhorse is one of four remaining participants bidding for the contract. Right now they get five to six miles per gallon.

Watch to the full interview with Steve Schrader in the clip below, or listen to the podcast here. Workhorse recently ran a demonstration of its autonomous touchless delivery in Virginia.

Schrader said any company that wants to launch a true drone delivery service that would rival a truck would need FAA certifications. In a best-case scenario, Schrader said Workhorse has a massive opportunity in the next two years with both vans and drones.

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