U.S. Postal Service contract could mean $800M for Lordstown Motors

LORDSTOWN — Lordstown Motors Corp. could see $800 million in potential revenue if Cincinnati-based electric vehicle maker Workhorse Group lands an $8.1 billion contract to supply the U.S. Postal Service’s next generation delivery vehicles, according to a Friday report from investment banking firm Roth Capital Partners.

Though the USPS contracting process has been delayed by the COVID-19 pandemic, an award could be announced as early as Tuesday, Oct. 13. That marks 90 days since the enterprises vying for the 165,000-unit contract submitted their requests and when Roth said USPS expected to announce its decision.

The Roth Capital report called Workhorse, one of three remaining applicants and the only one with an electric vehicle proposal, “the best fit” to win.

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