Workhorse Group Inc. said Thursday it sees a “prolonged process” at it attempts to challenge the loss of a massive U.S. Postal Service contract to build the agency’s next-generation fleet of delivery trucks.
The Loveland, Ohio-based electric-truck maker met Wednesday with representatives of the Postal Service to learn more about the agency’s surprise decision to award the lucrative contract to Oshkosh Corp.
“Yesterday’s meeting with the USPS marked the first step in what we expect may be a prolonged process to explore our options and possibly pursue further action,” Duane Hughes, Workhorse’s chief executive officer said in a statement.
Workhorse was down 7.7% to $13.77 at 9:50 a.m. New York time. Oshkosh was little changed at $108.31.