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Workhorse plans to fight losing the USPS’s NGDV contract

Workhorse Group Inc. WKHS, -10.08% isn’t sitting still after losing the U.S. Postal Service’s Next Generation Delivery Vehicle (NGDV) contract to Oshkosh Corp. OSK, +6.68%, as the electric vehicle maker said Wednesday that it has requested “additional information” from the USPS on the bidding process. The company said it is awaiting a response. “The company intends to explore all avenues that are available to non-awarded finalists in a government bidding process,” Workhorse said in a statement. The company said it will hold a conference call on March 1 to discuss financial results. The stock fell 9.4% in premarket trading, after plunging 47.5% on Tuesday after the USPS contract award was announced. Oshkosh shares rose 6.6% premarket, after climbing 6.1% on Tuesday. Over the past three months, Workhorse’s stock has lost 42.8% through Tuesday, while the S&P 500 SPX, -0.22% has gained 6.8%.

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