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Data: FactSet; Chart: Axios Visuals

The U.S. Postal Service is likely to be upgrading its fleet of trucks with electric vehicles soon, but the decision has been pushed back to next year.

Driving the news: USPS told automotive website Trucks.com on Tuesday that it expects to announce which companies it will select for a potentially $6 billion deal to build as many as 180,000 delivery vans in the second fiscal quarter of 2021.

  • USPS has now delayed the decision multiple times.

What we're hearing: Electric truck maker Workhorse, one of the three companies still competing for the bid, was tightlipped about the future of the deal, but did reveal that it is still in the running and awaiting word from USPS.

  • "We're under an NDA with the post office. The post office has announced at different times when the award will be made but it's really all in the post office's hands," CFO Steve Schrader told me in an exclusive video interview for the Voices of Wall Street podcast.
  • Workhorse also has agreements in place to deliver vehicles to UPS and DHL, Schrader said, and is aiming to produce 1,800 vehicles next year.

On the low: Cowen analyst Jeffrey Osborne, who is bullish on the stock and gives it an Outperform rating, says Workhorse is still well-positioned to capture up to 60%-70% of the post office’s fleet once a decision is finally made.

What's next: Workhorse is the only U.S. EV company remaining in contention for the contract, Trucks.com reported.

  • Turkish electric vehicle maker Karsan, which teamed with long-time USPS supplier Morgan Olson of Michigan, and Oshkosh Corp., from Wisconsin, which has teamed up with Ford for an internal combustion offering, are the two remaining companies in competition.

By the numbers: Workhorse's stock fell 19% on Wednesday after the USPS news, its sixth straight session in the red. However, the stock is still up 600% year to date, down from an 850% gain as of Nov. 23.

Go deeper

Ben Geman, author of Generate
Jan 27, 2021 - Economy & Business

What to watch for in Tesla's Q4 earnings report

Data: FactSet; Chart: Danielle Alberti/Axios

Tesla will report Q4 2020 earnings after markets close today, with analysts expecting a sixth consecutive quarterly profit for the electric vehicle maker that was reeling just a few years ago.

Why it matters: Tesla is the country's dominant EV company, and its trajectory affects overall adoption of the tech, even as more and more models from other companies are hitting the market.

4 hours ago - Politics & Policy

First look: The LCV's $4M ad buy

A screenshot from a new League of Conservation Voters ad supporting Rep. Stephanie Murphy.

The League of Conservation Voters and Climate Power are aiming another $4 million worth of ads at centrist House Democrats, urging them to support the climate provisions in President Biden’s $3.5 trillion budget reconciliation package, Axios has learned.

Why it matters: Progressive groups are trying to counter the onslaught of conservative money pouring into swing districts. Both sides are trying to define Biden’s Build Back Better Agenda and pressure lawmakers to support — or oppose — the legislation scheduled for a vote in the House this week.

4 hours ago - Politics & Policy

Shutdown Plan B

Illustration: Sarah Grillo/Axios

The Senate will hold a futile vote Monday night — just 72 hours before a potential shutdown — on a House-passed bill to fund the government through Dec. 3 and raise the debt limit.

Why it matters: The bill is going to fail. Period. But then comes Plan B: A "clean" continuing resolution — stripped of language about raising the debt limit — that Democrats spent the past week preparing, Axios is told.