Workhorse withdraws protest of missing out on USPS's NGDV contract

Published: Sept. 15, 2021 astatine 8:50 a.m. ET

Shares of Workhorse Group Inc. fell 0.8% successful premarket trading Wednesday, putting them connected way to unfastened astatine a four-month low, aft the electrical conveyance shaper said it has withdrawn its U.S. Postal Service (USPS) bid protest. The institution had indicated earlier this twelvemonth that it would combat the USPS determination to grant the Next Generation Delivery Vehicle (NGDV) declaration for battery-electric vehicles and fuel-efficient interior combustion motor vehicles to Oshkosh Corp. , a determination which immoderate connected Wall Street believed whitethorn person been politically motivated. On Wednesday, caller Chief Executive Rick Dauch said helium has been examining...