Page 26 - Morgan Olson News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Production ramp-up pains continue as Workhorse loses $120.5M in Q1 0 352 4 minutes read Workhorse Group lost $120.5 million in the first quarter as it delivered six trucks. (Photo: Workhorse) Workhorse Group (NASDAQ: WKHS) continued to struggle in ramping production of its composite-body electric delivery vans, delivering just six units in Q1. But the Cincinnati-based company said it has built 38 of its C-Series vans so far this year, most of those in April. Parts shortages and delivery uncertainty led to a downward revision in trucks Workhorse expects to build this year to 1,000 fr...

U.S. Postmaster General Louis DeJoy told Congress that only 10% of the new postal delivery vehicles it is ordering will be electric despite President Biden's push to fully electrify the U.S. government fleet.

Share: Benzinga's PreMarket Prep airs every morning from 8-9 a.m. ET. During that fast-paced, highly informative hour, traders and investors tune in to get the major news of the day, the catalysts behind those moves and the corresponding price action for the upcoming session. On any given day, the show will cover at least 20 stocks determined by co-hosts Joel Elconin and Dennis Dick along with producer Spencer Israel. When major contract announcements are forthcoming, it pays to do some homework.  In the case of the USPS contract for new delivery vehicles, finding out that Oshkosh Corp (...

Share: Defense contractor Oshkosh Truck Corp. (NYSE: OSK) won a 10-year contract to build next-generation delivery vehicles (NGDVs) for the U.S. Postal Service, beating out electric delivery van maker Workhorse Group Inc. Day traders had driven Workhorse (NASDAQ: WKHS) shares to record levels in recent months, anticipating that at least a piece of the multibillion-dollar contract would be awarded to the company. It was one of three finalists. The Postal Service delayed awarding the contract for several years after inviting seven companies to build prototypes for evaluation. Workhouse shares...

Electric chassis maker Xos Trucks agrees to $575M SPAC merger Surging investor interest in electric vehicles sets stage to bring startup public 2,097 3 minutes read Xos Trucks is heading for public trading via a reverse merger that expects the company to have a $2 billion valuation. (Photo: Xos Trucks) Electric truck chassis maker Xos Trucks is going public with blank check backing from a special purpose acquisition company (SPAC). Xos will merge with NextGen Acquisition Corp. at an implied market capitalization of $2 billion. North Hollywood, California-based Xos will get $575 mil...