In this Aug. 18, 2020, file photo, mail delivery vehicles are parked outside a post office in Boys Town, Neb. The United States Post Office said Tuesday, Feb. 23, 2021 that it has chosen Oshkosh Defense to build its next-generation mail-delivery vehicle, part of an effort to make the USPS more environmentally friendly by switching a portion of its huge fleet to electric vehicles. (AP Photo/Nati Harnik, File)
The United States Post Office said Tuesday that it has chosen Oshkosh Defense to build its next-generation mail-delivery vehicle, part of an effort to make the USPS more environmentally friendly by switching a portion of its huge fleet to electric vehicles.
Oshkosh Defense, a division of Wisconsin-based Oshkosh Corp., will assemble 50,000 to 165,000 of the new Next Generation Delivery Vehicles at its existing U.S. manufacturing facilities. It will get an initial $482 million toward retooling and building out its factory.
USPS described the deal as the first part of a multibillion-dollar 10-year effort to replace its delivery vehicle fleet.
The choice of Wisconsin-based Oshkosh is a big miss for Ohio-based electric vehicle startup Workhorse Group, which put in an all-electric bid for the vehicles. Shares of Workhorse fell more than 47% Tuesday.
The postal service last updated its mail-delivery trucks 30 years ago, and there have been major changes in the service's operations since then. Traditional mail volumes have declined, while the service now delivers millions of packages from online retailers like Amazon that did not exist when the previous mail vehicle was introduced.
The new vehicles will have more room for packages and will be updated with modern safety and driveability standards like cameras, airbags, and collision avoidance systems. The vehicles will also be a combination of electric and gasoline-powered, but the gasoline-powered new vehicles will have the ability to be retrofitted with new electric systems in the future.
While tech employees worry about artificial intelligence taking over their jobs, Microsoft says Iran, North Korea, and more U.S. adversaries are beginning to use AI in cyber spying.
The self-proclaimed "only Post who worked at Kellogg" was a military veteran who fought in World War II before inventing everyone’s favorite fruit-filled breakfast ravioli.
Kevin Gordon, Senior Investment Research Manager at Charles Schwab, shares his thoughts on how investors can take advantage of the current bull market while keeping in mind the impacts of Fed policy and inflation.
Lab-created diamonds come with sparkling claims: that they are ethically made by machines running on renewable energy. But many don't live up to these claims or don't respond to questions about their electricity sources, and lab diamonds require a lot of electricity.
Geoff Freeman, president and CEO of the U.S. Travel association, explains why other nations are outcompeting the U.S., and the innovations that would put American back on top.
Tony Drake, founder of Drake & Associates, breaks down the latest CPI report, why ‘inflation is still trending down,’ and why the Fed doesn’t want to cut rates too soon.
