With the Humvee needing an upgrade, Oshkosh introduces a replacement
With a $6.7 billion firm fixed price production contract, Oshkosh Corporation (Oskosh) is now manufacturing a replacement for the Humvee, producing the Joint Light Tactical Vehicle (JLTV). Designed for the Army and Marines, Oshkosh’s new vehicle will feature a General Motors (GM) diesel V-8 engines and transmissions from Allison Transmission LLC. The company’s contract will cover 17,000 vehicles but can possibly become worth $50 billion if 55,000 vehicles are produced. Beating Lockheed Martin and AM General for the contract, the JLTV has been tested and proven to be the best light vehicle for the armed forces moving forward.
Balance Sheet|New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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