WORKHORSE CONTRACT UPDATE

He declared his belief that 'the best way for us to work with any governmental agency is through cooperation, not through litigation.' He added by 'withdrawing our protest, we can also better focus our time and resources on initiatives that we expect will be more productive.' He led the decision to terminate the USPS contract complaint. Possibly more significantly, Dauch is taking action on several fronts. The company both recalled the C-1000s currently on the road and suspended upcoming deliveries.

WORKHORSE CONTRACT UPDATE

The C-1000, an update on Workhorse's earlier C-650 design, is named for its 1,000 cubic feet of cargo space, while retaining the same 100-mile range. Next, Workhorse announced recall of 41 of its C-1000 electric last-mile delivery vans on Sept. Subsequently, it dropped its legal complaint against the government, after Oshkosh filed a motion asserting 'Workhorse's failure to complete the administrative appeal process is fatal to its case.' Why the stock market is negativeĪmong other troubles, Workhorse recently lost a multibillion-dollar contract to build electric delivery runabouts for the Postal Service to industrial vehicle maker Oshkosh Corporation ( OSK -1.14%). While the company is undoubtedly having difficulties, several recent events hint at a turnaround chance within the next year or two and make Workhorse worth watching - though perhaps not buying right now. Investor confidence sank recently on the recall of several dozen Workhorse delivery vans for upgrades.

Following failure to win a huge USPS delivery vehicle contract, electric vehicle (EV) maker Workhorse Group ( WKHS 7.09%) is seeing its share prices crash even lower.

Workhorse contract