It was a pretty sad end for one of Trump’s favorite automakers

Back in May 2019, former President Donald Trump tweeted that Workhorse, an electric vehicle maker, would buy the closed GM plant in Lordstown, Ohio, causing Workhorse’s inventory to increase. Workhorse’s stock has risen roughly since then, with the presumption that he might the next USPS mail truck. Friends, this will not be the case.

US Postal Service ad On Tuesday, instead, Oshkosh Defense, a Wisconsin-based entrepreneur, will do so, halving Workhorse’s share price almost instantly. Wednesday, Workhorse issued the following statement, which is identical to the statement I made in high school after asking someone to do a prom and being rejected:

On February 23, 2021, the USPS issued a press release announcing that it had awarded an award under the NGDV contract to a competing finalist, details of which can be found here. After being advised of the USPS decision, the Company requested additional information from the USPS under the rules of the tendering process and is awaiting a response at this time. The Company intends to explore all avenues available to unsuccessful finalists in a government tender process. As new updates are provided, Workhorse intends to share this information through the appropriate communication channels to the extent that the Company is authorized to do so.

According to the New York Times, Workhorse Achieved Under $ 1 Million In Revenue In First Three Quarters Of 2020, while Oshkosh had sales of $ 8.4 billion in 2019 alone. Workhorse also has only about 130 employees, while Oshkosh has more than 14,000. courier, meanwhile, is forecasting as many as 165,000 new mail trucks over ten years, which means Workhorse’s small size may have done it all on its own.

All of this means that this is a big, possibly fatal, mistake for Workhorse, even though she still has his other jobs, in addition to its 10% investment in Lordstown Motors, the electric truck maker that unveiled its Endurance at Trump’s White House. That day, thanks to his investment in Lordstown, Workhorse saw its stock increase by 16%. It’s a good thing Trump is still in the White House to give him a boost … wait, I hear the opposite … hmm.