OSK news February 23, 2021 03:58 PM ET (BZ Newswir
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Posted On: 02/24/2021 9:06:26 AM
Re: whytestocks #24
OSK news February 23, 2021 03:58 PM ET (BZ Newswire) -- News
Shares of four companies are reacting to the news that the United States Postal Service has awarded its highly anticipated next generation delivery vehicle contract on Tuesday.
The Potential Winners: The USPS announced a multi-billion dollar deal to modernize its delivery fleet with Oshkosh Corporation (NYSE:OSK).
Oshkosh will “manufacture a new generation of U.S. built postal delivery vehicles that will drive the most dramatic modernization of the USPS fleet in three decades,” according to Tuesday’s press release.
The initial contract will see Oshkosh get $482 million to finalize the production design of the vehicle and begin assembly of the next generation delivery vehicle. The contract calls for 50,000 to 165,000 new USPS vehicles to be built over the next 10 years.
new vehicles will reduce fleet costs and lower greenhouse gas emissions. The new USPS vehicles will also feature air conditioning and heat, 360 degree cameras. Increased space for cargo to better accommodate higher package volumes is also a feature of the Oshkosh winning vehicle.
The award is an indefinite delivery, indefinite quantity contract, which means the USPS has the ability to order more vehicles over the 10-year time period.
The new USPS vehicles are expected to be used for mail carriers beginning in 2023.
Oshkosh entered into a joint development with Microvast earlier this month in a deal that covers “future battery collaboration and innovation.”
Battery manufacturer Microvast is going public via a SPAC merger with Tuscan Holdings Corp (NASDAQ:THCB). Oshkosh invested in the PIPE on the SPAC deal. Microvast could be the supplier of batteries for the new USPS vehicles.
WKHS dumpped
Shares of four companies are reacting to the news that the United States Postal Service has awarded its highly anticipated next generation delivery vehicle contract on Tuesday.
The Potential Winners: The USPS announced a multi-billion dollar deal to modernize its delivery fleet with Oshkosh Corporation (NYSE:OSK).
Oshkosh will “manufacture a new generation of U.S. built postal delivery vehicles that will drive the most dramatic modernization of the USPS fleet in three decades,” according to Tuesday’s press release.
The initial contract will see Oshkosh get $482 million to finalize the production design of the vehicle and begin assembly of the next generation delivery vehicle. The contract calls for 50,000 to 165,000 new USPS vehicles to be built over the next 10 years.
new vehicles will reduce fleet costs and lower greenhouse gas emissions. The new USPS vehicles will also feature air conditioning and heat, 360 degree cameras. Increased space for cargo to better accommodate higher package volumes is also a feature of the Oshkosh winning vehicle.
The award is an indefinite delivery, indefinite quantity contract, which means the USPS has the ability to order more vehicles over the 10-year time period.
The new USPS vehicles are expected to be used for mail carriers beginning in 2023.
Oshkosh entered into a joint development with Microvast earlier this month in a deal that covers “future battery collaboration and innovation.”
Battery manufacturer Microvast is going public via a SPAC merger with Tuscan Holdings Corp (NASDAQ:THCB). Oshkosh invested in the PIPE on the SPAC deal. Microvast could be the supplier of batteries for the new USPS vehicles.
WKHS dumpped
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