The United States Postal Service told Trucks.com it expects to sign a next generation delivery vehicle contract with one or more bidding teams in Q1 of 2021, Roth Capital analyst Craig Irwin tells investors in a research note. This compares to the USPS’s October 13 email to Roth Capital that a decision would be made by the end of 2020, the analyst points out. Irwin believes that the longer the contract is delayed, the greater opportunity competitors to Workhorse Group (WKHS) have to show the USPS other electric vehicles. Workhorse has been the front runner for the $8.1B contract for 165,000 delivery vehicles, but Oshkosh (OSK) and Ford (F) have already shown the USPS an alternative vehicle solution, according to Irwin. Further, the analyst thinks the incoming Biden team will want to evaluate the contract “to know it isn’t going to a Trump political favorite.” This could push the contract closer to mid-2020, he says. Irwin keeps a Neutral rating on Workhorse Group with a $19 price target. The stock closed Tuesday down 55c to $25.23.