- The U.S. Postal Service (USPS) has placed an order of Next Generation Delivery Vehicles (NGDV) with Oshkosh Defense, a subsidiary of Oshkosh Corp 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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