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Why Workhorse Group Shares Are Accelerating Today

The U.S. Postal Service has altered course a bit on its plans for replacing its aging fleet of delivery vehicles, and now says it plans to buy significantly more electric delivery vehicles in the years to come than it previously forecast. Workhorse is an electric vehicle start-up whose short history is tied closely to the Post Office's plans to revitalize its fleet. The company had initially hoped a big contract from the USPS would jump-start its business, but in February 2021, rival Oshkosh won that massive $6 billion contract.