Partnering with the US Postal Service, Oshkosh is Awarded with a Contract
Oshkosh Corporation (Oshkosh) subsidiary Oshkosh Defense was awarded a new 10-year contract with the US Postal Service in February of 2021. With the contract initially investing $482.0 million to build 50,000 to 165,000 over 10 years, the company will produce the Next Generation Delivery Vehicle (NGDV), which is a new right-hand-drive vehicle with efficient engines and battery electric powertrains. Plan to first be used in 2023, the NGDVs are part of the Postal Service’s effort to overhaul and modernize the existing fleet of 230,000 vehicles. Oshkosh is first expected to deliver 5,000 vehicles and eventually ramp up production to 165,000.
COVID|Balance Sheet|New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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