01:05 PM EST, 12/06/2024 (MT Newswires) -- (Updates with additional details, comment requests and stock moves from the second paragraph onwards.)

The transition team of US President-elect Donald Trump is mulling the cancellation of the US Postal Service's contracts to electrify its delivery vehicles, including contracts with Oshkosh (OSK) and Ford Motor ( F ) , Reuters reported Friday, citing three sources familiar with the plans.

The move could come in early days of Trump administration, and as per his promise to reverse President Joe Biden's transportation decarbonization efforts, Reuters reported.

Oshkosh is expected to deliver about 45,000 electric vehicles as part of USPS' plan to deploy 66,000 EVs by 2028, with the rest coming from Ford and other mainstream automakers, according to Reuters.

Oshkosh, Ford and USPS didn't immediately respond to requests for comment from MT Newswires.

Oshkosh shares were down over 5% and Ford shares were up 0.4% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 105.68, Change: -6.21, Percent Change: -5.55