Hi friends and new readers, welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B.
In last week’s newsletter, I described some of the changes coming to TechCrunch’s transportation coverage, including “market maps.” These articles, which will always run in Extra Crunch, focus on a particular slice of the transportation industry, along with other mobility-related analysis.
The first of these took a deep dive into the solid state battery industry. As Mark Harris reported: “For the last decade, developers of solid state battery systems have promised products that are vastly safer, lighter and more powerful. Those promises largely evaporated into the ether leaving behind a vapor stream of disappointing products, failed startups and retreating release dates.”
WKHS Stock: Why Hard-Hit Workhorse Is Starting to Rev Up Workhorse is ready to fight for a chance with the USPS. Here s what to watch. By Sarah Smith, InvestorPlace Web Content Producer Mar 1, 2021, 1:59 pm EDT March 1, 2021
Workhorse (NASDAQ:
WKHS) is not giving up. After losing almost half its value last week, WKHS stock is starting to rev up on Monday. It turns out that there are two reasons for the comeback.
Source: rblfmr / Shutterstock.com
Investors likely know that Workhorse is an electric vehicle startup promising to electrify last-mile delivery with its C-Series trucks. Although it has other customers, a big catalyst for shares was the coveted deal with the United States Postal Service. Last week, we learned that Workhorse lost that bid. Instead, the contract went to
The United States Postal Service (USPS) has revealed its new mail truck after a 6-year competition, selecting the duck-billed option from Wisconsin-based defense contractor Oshkosh. Its Next Generation Delivery Vehicle (NGDV) will officially replace the Grumman Long Life Vehicle (LLV) starting in 2023. Though the LLV spent the last 20 years being gradually supplanted by anything large enough to haul a bag of mail, it’s technically the last vehicle commissioned for use by the USPS.
Sadly, the postal service’s decision also represents a major loss for Ohio-based Workhorse. Its battery electric W-15 seemed to represent the government’s greener ambitions and was capable of 80-mile journeys before a gasoline-powered range extender kicks on. While a smart design, we think the manufacturer would have been better served by having ties to the military, like Oshkosh and Grumman. Workhorse’s share price has been falling ever since news broke that the USPS wouldn’t be needing it
USPO Oshkosh Delivery Truck Closeup
Both ICE and Electric Versions Ordered
OSHKOSH, Wis.-The U.S. Postal Service (USPS) announced today that it has awarded Oshkosh Defense, a wholly owned subsidiary of Oshkosh Corporation , an indefinite delivery, indefinite quantity (IDIQ) contract to produce the Next Generation Delivery Vehicle (NGDV), the USPS’s first large-scale fleet procurement in three decades. The competitively awarded contract allows for the delivery of between 50,000 and 165,000 vehicles over a period of 10 years. “Oshkosh operates with unparalleled commitment to those who depend on our products and services to build, protect and serve communities around the world. We are honored to have been selected by the USPS to support their important work by manufacturing American-made Next Generation Delivery Vehicles that will connect every home and business across the United States for decades to come,” said John Pfeifer, President & Chief Operating Officer, Oshkosh Cor
Screenshot: Disney / YouTube (Fair Use)
Earlier this week, the United States Postal Service announced a new, multi-billion dollar line of “Next Generation Delivery Vehicles,” providing potentially up to 165,000 modernized mail trucks for its updated fleet by 2030. Per the official USPS news release, the NGDVs “will be equipped with either fuel-efficient internal combustion engines or battery electric powertrains and can be retrofitted to keep pace with advances in electric vehicle technologies.” Pretty cool, right? So, what kind of kickass, futuristic mail trolleys can we expect rolling (or, dare we say, flying) across the wide, albeit crumbling, American roadways? Well, let’s have a look, shall we?