The drama with the USPS delivery order took another turn today with the Biden administration launching another effort to add more electric vehicles to the order with a request for a public hearing and more negotiations.
The backdrop is that the USPS is on a path to spend $11.3B on as many as 165K new delivery trucks over the next decade.
Last year, shares of Oshkosh (OSK -1.8%) soared and Workhorse Group (WKHS -10.0%) fell after the postal agency awarded a 10-year contract to OSK to manufacture a new generation of U.S.-built postal delivery vehicles as part of a dramatic modernization of the USPS fleet. That led to several months of squabbling until Workhorse withdrew its legal challenge in September.
Compare performance and valuation metrics on Oshkosh and Workhorse Group side by side.