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Benzinga
Benzinga
Business
Akanksha Bakshi

Oshkosh Bags $2.9B Order From USPS For Next Generation Delivery Vehicles

Oshkosh USPS OSK NYSE South Carolina Spartanburg
  • The U.S. Postal Service (USPS) has placed an order of Next Generation Delivery Vehicles (NGDV) with Oshkosh Defense, a subsidiary of Oshkosh Corp (NYSE:OSK).
  • The initial order is for 50,000 NGDVs and is valued at $2.98 billion. The first order will include a minimum of 10,019 BEVs.
  • Oshkosh won the competitively awarded NGDV contract in February 2021. 
  • Oshkosh Defense will manufacture zero-emission battery electric vehicles (BEV) and fuel-efficient low-emission internal combustion engine vehicles (ICE) for the USPS in their Spartanburg, South Carolina factory.
  • The company expects to begin production of the NGDVs in 2023.
  • Price Action: OSK shares traded higher by 1.17% at $107.39 on the last check Thursday.
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