Trump's team may cancel USPS electric mail truck contract, impacting Oshkosh and ford.

From Investing.com: 2024-12-06 18:25:43

Donald Trump’s transition team is considering canceling U.S. Postal Service contracts to electrify its delivery fleet in a move to roll back Biden’s efforts to decarbonize transportation. Oshkosh shares fell 5% after the news. Oshkosh and Ford have multibillion-dollar contracts for battery-driven trucks and charging stations.

In 2023, Congress gave USPS $3 billion for EVs. Oshkosh is expected to deliver about 45,000 electric vehicles with the rest coming from mainstream automakers. The USPS plans to build one of the largest EV fleets by 2028. The USPS is an autonomous agency making cancelling the contract legally challenging.

Trump’s team did not comment directly on the USPS contract. They emphasized protecting Americans’ freedom to choose their vehicles, enhancing tariffs on Chinese-imported cars, and saving the U.S. auto industry. Biden issued an executive order aiming for 50% of new cars to be zero-emission, with various federal agencies working to speed EV adoption.



Read more at Investing.com: Exclusive-Trump may cancel US Postal Service electric mail truck contract, sources say By Reuters