All market data delayed 20 minutes. Workhorse is focused on the commercial side of the EV industry, supplying electric-powered delivery vehicles for last-mile use. So in any scenario, Workhorse loses, and the $1.8B bubble eventually will deflate. Where the business would get its working capital or funding for the transaction is unclear.The first product from the new, unnamed entity likely would be an electric pickup for commercial fleets, Burns said. Founded in … It lacks air conditioning, anti-lock brakes, traction control and other modern technologies. The Postal Service is now considering splitting the contract among multiple manufacturers, This material may not be published, broadcast, rewritten, or redistributed.
… All rights reserved. Components and engineering from the W-15 electric pickup that Workhorse has developed but not produced likely would underpin the truck.“If this gives us a chance to start on the 50-yard line and punch one in that’s great for every… ©2020 FOX News Network, LLC. Workhorse and VT Hackney could build their truck at an idled GM factory in Lordstown, Ohio, that Workhorse has been trying to acquire. Many Workhorse bulls are counting on the potential US Postal Service contract to be the panacea that cures all ills. This material may not be published, broadcast, rewritten, Follow Not only does Workhorse have the technology to develop trucks for the massive USPS contract, it also develops cloud-based, real-time telematics monitoring systems … Further, Workhorse Group is well cut out for the massive USPS contract. Ohio is a swing state, and Trump wants to get re-elected.
The competitive bidding process for the USPS contract would lead to substantial losses for Workhorse to win the contract. All rights reserved. And the USPS has been on a … Workhorse will get a cut of any sales of that truck and 1 percent of any equity raise that the startup, called Lordstown Motors, is … (Brian …
or redistributed. Currently priced at $17.43, WKHS sports a rich market cap of $1.8B with no real revenues, solely based on aggressive future expectations. The Grumman LLV, or “Long Life Vehicle,” was produced from 1987 to 1994 and had a projected 24-year lifespan. The bulls see this as a further impetus for Workhorse to be awarded the USPS contract. Check out what's clicking on Foxnews.com Workhorse is already selling their vehicles to major companies including UPS, DHL, and FedEx and they're looking to secure a contract with USPS. One of the four remaining companies is Workhorse, a struggling electric vehicle startup that has many of its eggs in the USPS contract basket. AM General builds many vehicles for the U.S. government, including the Humvee. Indian automaker Mahindra has promised to build a factory in Flint, Mich, to produce its NGDV proposal. Workhorse is well-positioned for the potential contract from the U.S. ©2020 FOX News Network, LLC. Turkish automaker Karsan is working with Morgan Olsen, a corporate descendant of Grumman. Bears doubt that Workhorse can ever become a profitable vehicle producer to the extent that it would justify today's valuation.
Ford and Oshkosh have teamed up on a modified version of the Ford Transit van. Workhorse and VT Hackney could build their truck at an idled GM factory in Lordstown, Ohio, that Workhorse has been trying to acquire. The USPS said it has narrowed the field of finalists for designing the next-generation prototype from 15 companies down to six, and the winner will receive a multibillion-dollar contract… Along with ongoing challenges of maintaining a fleet of aging vehicles, there has been a All market data delayed 20 minutes.Gary Gastelu is FoxNews.com's Automotive Editor covering the car industry and racing. Fox News Flash top headlines for Oct. 1 are here.
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