Mahindra has withdrawn its bid to supply trucks to the US Postal Service (USPS).
The annoncement came in today’s Q1 FY2021 results. The company has written off the investment it had made towards this project.
Mahindra was one of only three manufacturers chosen from a pool of 15 applicants to move on to this stage in the process, which will be funded by the USPS and include an extensive period of testing and evaluation.
Mahindra had advanced to the prototype stage in the competition for the United States Postal Service’s (USPS) Next Generation Delivery Vehicle (NGDV) contract.
The Postal Service’s NGDV contract called for the supply and support of up to 180,000 new postal vehicles over the course of 20 years, and could approach a potential worth of over $20 billion.