![]() Sign Up for Luke’s Free Hypergrowth Investing Newsletter (And Free Special Report).The other finalist, Oshkosh - who is partnering with Ford (NYSE: F) - is proposing to make a delivery van built on an internal combustion (so it’s not electric). agency taps a Turkish company to supply its vans. One of them, Karsan, is a Turkish-based company. There are three finalists for the contract. I’ve long held the belief that, despite multiple delays, Workhorse will end up winning the enormous $8.1 billion USPS fleet upgrade contract. Thus, if Workhorse does indeed win the contract in early 2021, Workhorse stock will stage an enormous rally over the next 12 months. ![]() The entire bull thesis on WKHS resets upon that contract. Read Next: Oshkosh Bags $2.Source: Stratos Brilakis / īecause in making that pledge, Biden basically confirmed that Workhorse will win the huge and significantly delayed USPS contract. While there were several winners from the new contracts announced, Oshkosh could be on watch as it has already landed a huge contract from the USPS, but could miss out on additional orders as the USPS looks elsewhere for electric vehicles. The charging stations will be installed at Postal Service facilities starting in the third quarter of 2023.īlink Charging CEO Michael Farkas highlighted his company's contract during an appearance on Benzinga TV Wednesday. ![]() The Associated Press reported the winners of contracts for a total of $260 million for electric vehicle charging stations were Blink Charging Co BLNK, Siemens AG SIEGY and Rexel USA Energy Solutions. Together the deals for vehicles from Ford and Stellantis are worth $1 billion. The Fiat Chrysler vehicles will begin deliveries in November. The USPS also needs gas-powered vehicles and The Associated Press reported the USPS will also buy another 9,250 internal combustion vans from Fiat Chrysler, a unit of Stellantis NV STLA. “After a competitive search, the Postal Service awarded a contract to purchase a total of 9,250 Ford E-Transit Battery Electric Vehicles,” the release reads.ĭelivery of the vehicles is expected to start in December 2023. The Contract Winners: The USPS press release highlighted Ford Motor Company F as one of the winners in the new round of contract wins. Related Link: Tesla SuperCharger Stations Now Open For Rivals In The US: Here's How It Works And Why It's Important The Postal Service said funds through 2028 are expected to help with the purchase of 106,000 delivery vehicles, including 66,230 electric delivery vehicles. “Electrification of our vehicle fleet is now an important component of these initiatives.” “We are moving forward with our plans to simultaneously improve our service, reduce our cost, grow our revenue and improve the working environment for our employees,” Postmaster General Louis DeJoy said. The total investment in vehicles will now be around $9.6 billion, with $3 billion coming from the Inflation Reduction Act. The USPS is purchasing 9,250 commercial-off-the-shelf battery electric vehicles and 14,000 electric vehicle charging stations. USPS Is Electrifying: The USPS announced several new electrification initiatives this week for the “nation’s largest federal fleet.”
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