In November, Lordstown Motors purchased General Motors’ shuttered 6.2 million-square-foot assembly plant in Lordstown. Workhorse is a 10% stakeholder in Lordstown Motors Corp., a startup electric vehicle company that is angling to become the contract manufacturer for Workhorse should it land the postal service project. The USPS said it could not identify those companies vying for the contract.
in Wisconsin, and Karsan Automotive, based in Turkey, are the three finalists for the award. According to earlier reports, Workhorse, Oshkosh Corp. The USPS response also leaves open the potential for the agency to award multiple contracts to the competing companies. Workhorse shares closed at $23.63 per share on Tuesday, down 11.1% from Monday’s close at $26.58. This February, the postal agency announced that it had entered into a 10-year deal with Wisconsin-based military contractor, Oshkosh Defense. The contract originally was to be awarded in 2018. Originally, seven suppliers created concepts to replace the aging fleet of right-hand drive Long Life Vehicles (LLV) made by Grumman. The Postal Service began a multiyear research program for new delivery vehicles in 2016. Positioned for a Decade of Hypergrowth Winning all or most of the USPS contract is a huge near-term. Nevertheless, he noted, “Workhorse’s proposal would be a good solution.” Workhorse shares closed down 19.02 at 20.43 on Wednesday. When the company does, WKHS stock will pop in a huge way. However, Craig Irwin, one of the authors of the report, downgraded Workhorse’s stock to “Hold” from “Buy” on Tuesday and cut his target price to $27 from $33 a share.
0 kommentar(er)
