Voxx receives $50M of initial awards from Oshkosh

Aug. 23, 2022 8:55 AM ETVOXX International Corporation (VOXX)By: Meghavi Singh, SA News Editor
  • VOXX International (NASDAQ:VOXX) on Tuesday provided updates on the multi-year award the company's wholly owned subsidiary, VOXX Automotive Corporation received from Oshkosh Defense.
  • The initial award is estimated to be ~$50M to start, with a longer-term potential value of over $150M from Oshkosh to support the production and shipment of the first 50,000 NGDV's.
  • VOXX Automotive Corporation was selected by Oshkosh Defense to be the provider of in-vehicle camera systems for the new fleet of NGDVs.
  • Per the terms, VOXX will also be supplying shock and tilt sensors as well as interior and exterior speakers. These new systems from VAC will be in all new NGDV's built.
  • The company expects to begin mass production in its Fiscal 2023 third quarter, with the revenue realized over a four to five year period.
  • The USPS intends to deploy up to 165K U.S.-built vehicles over the next decade.
  • Shares are up 1.25% premarket.

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