The hope, of course, from investors is that it takes off in a big way and they make up their losses and then some. It's a company spending a lot on research and development, losing a lot of money, which is not unusual in the startup field. "Their revenue was below $1 million in 2018. Postal Service earlier this year to award a multibillion-dollar, 10-year contract to Oshkosh Defense to manufacture a new generation of. How viable is Workhorse? Wetterich said it's hard to tell. In June, Workhorse had challenged a decision by the U.S. They’ve got a wide variety of things they’re looking at building." Also looking at aviation and other kinds of drones. The drone takes off from the truck and delivers the package to your house.
Then they're also developing kind of a combo truck and drone. Then they do have, if you saw it on the street, you would say that looks kind of like a pickup truck.
Postal Service which they would build a smaller truck and fleet of delivery vehicles for them. They’re i n line for a contract with the U.S. "They’ve built some trucks for UPS, delivery trucks. We discovered UPS has moved on from Workhorse and many of these new (<6 year old) trucks are broken down. UPS has the most miles tested on Workhorse trucks with the first delivered trucks to UPS back in July 2015. UPS accounts for >90 of Workhorse’s total trucks sold. Workhorse is making a couple different kinds of vehicles. UPS is Workhorse’s most important customer. They're like a lot of electric car manufacturers, they're basically a startup company at this point still." They've lost money the last couple of years. And of course the delivery and logistics industry wants to find ways to cut costs and going to electric trucks could definitely save them some money. They have a few contracts, most notably with United Parcel Service to provide electric trucks. "They're really a company that has spent a lot of money on research and development. Wetterich describes Workhorse as a startup. THE CINCINNATI BUSINESS COURIER Chris Wetterich is a reporter and columnist for The Cincinnati Business Courier
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