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$.50 or lower is possible if LMC remains silent the next 2-3 weeks .
Bull Shit, RIDE has 220 million in the BANK!
Research! DD, RESEARCH! DD! Research! DD!
220 million in the BANK!
220 million in the BANK!
220 million in the BANK!
Foxconn already bought out 100% of the preferred and 18% of the common stock.
RESEARCH! DD, Research! DD SMH
They will be bankrupt by the end of this year. It remains to be seen if FC will buy them out to take ownership of the paltry amount of value in their "intellectual property" or just let them fail completely and continue on without them using a more conventional electric drivetrain for the MIH platform.
Production is still halted here and from what I gather it maybe another week to a month according to Hightower. Let’s say in 2 weeks before they resume production but that means 2 weeks of the PPS mostly tanking to new a low the next couple of weeks. $.60
RIDE 45% MIH EV partnership. Foxconn 55% It's in the filing.
Huge! Equates to the reason for the Foxconn 170 million investment
for 100% RIDE preferred shares and 18% of the common.
It's in the filings and explains the massive $170 million investment and
the partnership.
They filed the top notch partnership with the SEC.
RESEARCH! will show the massive worldwide collaboration
Lordstown has 220million in the bank.
LMC can’t make it on their own and even with Foxconn unless Foxconn bails them out and gives them more financing. LMC most likely will be force to reverse split get the PPS higher and dilute the stock further.
Not for very long . They don’t have enough money to build 2500 trucks . Only money for 500 but no one seems to buying fleet trucks now and LMC came in to #3 truck of the year ? Something doesn’t seem right. The longer management waits to release news the more this will tank . I’m sure this is close to bottom . My target is $.60
What’s up with the other 34 trucks built?
Lordstown Motors said Monday that despite delivery delays and larger losses than expected in Q4, it has about $220M in cash and ain't scared. Since the EV start-up went public, supply costs and challenges have made even well-established OEMs change their footing.
“Lordstown is now looking at a contract with Foxconn on a new EV program while working to resolve issues with its Endurance pickup truck. To date, the brand has built around 40 trucks and delivered 6. “
https://www.asotu.com/article/lordstown-has-cash-and-a-plan-volvos-electric-cement-and-honda-marching-to-its-own-drum
Lordstown Motors says it still has $220 million in cash
The Ohio-based startup is beginning a pivot to a new electric vehicle program in collaboration with Taiwanese contract manufacturer Foxconn, which bought Lordstown’s plant and invested in the startup last year in a deal that could eventually be worth up to $170 million if all milestones are hit.
Lordstown said Foxconn has so far invested $52 million, of which $30 million is earmarked for a new EV platform, which will incorporate components and engineering developed by the Mobility in Harmony Consortium (MIH), a Foxconn-led effort to develop an open architecture for electric vehicles.
Lordstown said that the next platform and vehicle program are “key” to its long-term strategy.
“Our asset-light business model and collaboration with the Foxconn EV ecosystem, including MIH, will provide the opportunity for Lordstown Motors to create winning EVs that are tailored to the needs of customers that use them for various work applications, while gaining the cost benefits of scale,” said CEO Edward Hightower in a statement.
* Lordstown Motors said Monday that it still has over $220 million in cash.
*Lordstown is working with contract-manufacturer Foxconn on a new electric vehicle program.
The video I posted disagrees with that bullshit comment.
We are going into critical mass production as Jack of Foxconn and
Hightower from Lordstown Motors explan in detail.
The truth from the horses mouth, outweighs the bull shit.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=171435321
Hightower explains entering critical mass production.
Underestimated power of the Foxconn/Lordstown partnership.
Lordstown Motors News: CEO Panel Discussion from CES 2023 - legal news and major Foxconn news #mxux
LMC CEO remarks - very informative - from a live panel discussion at the CES 2023 main hall. This was a great event that all RIDE and potential RIDE shareholders should review. Also here legal briefs - LMC cleaning up the feild for the start of full production next month. Foxconn news here as well - good luck in the market -MXUX
www.mxux.studio
Steve Burns cashed out 59 million dollars in the last 12 months . I don’t think he has made this much in his life in one year. And he is a free man ! Only in America!
Monarch Tractor completes first units of production edition
On December 1, 2022, the first production units of the Monarch Tractor MK-V rolled off the assembly line, marking a milestone in the growth of the company.
When it first launched publicly in 2020, the Monarch Tractor MK-V changed the agriculture industry with next-generation electric vehicle technology and the promise of a fully autonomous compact tractor form factor that was unique to the industry. The company deployed the first prototype tractors locally at Wente Vineyards in Livermore California. The Livermore region in California is home to a number of grape growers and wine producers, and this is where the company decided to set up its corporate headquarters.
“This is a momentous day for Monarch Tractor that has been years in the making,” said Praveen Penmetsa, co-founder & CEO, of Monarch Tractor. “Our team has worked tirelessly and relentlessly with a mission to make farming more profitable and sustainable. We’re proud to see our commitment to technological innovation and sustainable solutions culminate in celebrating our first tractor off the production line, which, I might add, is powered by renewable energy.”
Monarch Tractor has secured several strategic partnerships globally including CNH Industrial and V.S.T. Tillers Tractors, and recently signed a contract manufacturing agreement with Hon Hai Technology Group (“Foxconn”,) the world’s largest electronic manufacturer, to build the MK-V and its battery packs at the Foxconn Ohio facility. The first production units for the Constellation Brands contract, however, are coming off the Founder Series production line at its headquarters and manufacturing facility in Livermore, California.
The tractor platform immediately turned a lot of heads when it was launched in 2020. While larger form factor tractors by John Deere and others have had ADAS and driver support features for more than a decade, the Monarch Tractor MK-V was the first compact tractor to come to market with an all-electric drive train.
The company decided to go after the compact tractor form factor as this market is one of the largest market segments around the world, serving small to medium size operations in every growing region and crop opportunity.
On top of the all-electric drive train, the MK-V also offers full autonomy with a complete suite of vision cameras and other sensors that enable the tractor to navigate and avoid obstacles during operation. The company continues to upgrade and roll out new software features that enhance the capabilities for self-driving, perception and autonomy.
The tractors use six NVIDIA Jetson Xavier NX SOMs (system on modules) that help them safely navigate fields using only cameras. “This is important in agriculture environments because there may be no GPS signal,” said Penmetsa. “It’s also crucial for safety as the Monarch is intended for totally driverless operation.”
The Founder Series MK-V runs two 3D cameras and six standard cameras. With the six Jetson edge AI modules on board, it can run models for multiple farming tasks when paired with different implements. “The NVIDIA Jetson enables the MK-V to run low-latency, real-time AI applications while at the same time conserving energy for longer battery life and extended run time,” said Penmetsa.
Key features of the MK-V include:
Renewable Technology: The MK-V is electric and emits no pollution. It serves as a tractor, utility vehicle, and powerful electric generator in the field.
Driver Optional: Monarch combines driver-assist and driver-optional hardware and software. The Monarch MK-V can execute pre-programmed operations without a driver, or an operator can leverage interactive automation features like Shadow mode to follow a worker.
Unprecedented Safety: The MK-V is full of safety features like rollover and collision prevention, vision-based Power Take Off (PTO) safety, and 360° cameras to keep operations running smoothly and employees safe, day or night.
Deep Learning & Sensing Suite: The MK-V collects and analyzes crop data every day. It can also process data from current and next-generation implements with sensors and imaging. This information can be used to make changes to the hardware in real-time, estimate long-term yields, figure out where the plant or crop is in its growth cycle, and get other information about its health.
Smart Device Operation: MK-V users get alerts about the status of their tractors, detailed reports about their operations, and data collection, analysis, and storage for better farm planning.
Powerful: The Monarch electric drivetrain is capable of providing 40HP (30KW) of continuous power and short-duration peak power up to 75HP (55KW) in a small footprint for multi-purpose usage.
“We are pleased to partner with Monarch Tractor as its first customer, accelerating our deep commitment to sustainability while supporting a business driving future-forward innovation in agriculture technology,” said Robert Hanson, president of Constellation Brands’ Wine & Spirits division. “As we build a leading global premium, fine wine and craft spirits portfolio, comprised of some of the world’s top vineyards including To Kalon (whose organic certification is expected in early 2023), we are focused on protecting and amplifying our resources while producing the highest quality wines and spirits in the world. Being the first to leverage the Founder Series MKV affords us an industry-first opportunity to do so, and we congratulate Monarch on this exciting Launch.”
Monarch Tractor was a 2021 RBR50 honoree for the innovation of an all-electric, autonomous, compact-format tractor. CEO Praveen Penmetsa was a guest on The Mobile Robot Guide Podcast in episode 6.
In California, Monarch Tractor is championing the acceptance of fully autonomous tractors as an automation solution for California farmers, in light of the ban on autonomous tractors by CAL OSHA. The California agriculture market is one of the largest markets for specialty crops in the world, and is important to the success of the MK-V. Labor availability is one of the key market drivers for specialty crops as it requires a lot of manual labor for cultivation and harvesting.
Nu Ride's new five-person board is expected to appoint William Gallagher, managing director of M3 Partners — a transaction advisory firm in New York — as Nu Ride's president and CEO, according to the regulatory filing.
Gallagher faced a situation similar to Nu Ride as CEO at WMIH Corp., the public acquisition corporation that succeeded Washington Mutual Inc. — the parent of WaMu Bank in Seattle that was seized by federal thrift regulators in fall 2008. By January 2015, the shell company left over from the failure of Washington Mutual had raised close to $600 million to pursue acquisitions of financial companies that could benefit from its huge, tax-deductible losses, according to a report by the Seattle Times.
Gallagher took over as leader of WMIH in May 2015 "to oversee its acquisition strategy and manage its day-to-day affairs," according to M3 Partners.
He was responsible for "reviewing, vetting and analyzing a large number of potential target companies from a variety of different sectors and industry groups," M3 says.
"Ultimately, WMIH acquired Nationstar Mortgage Holdings to form Mr. Cooper Group," M3 says. Gallagher departed from WMIH after closing the Nationstar acquisition in July 2018.
Bill Gallagher has more than 35 years of experience in finance, investment and financial restructurings. He brings deep expertise in credit analysis and has long-term management experience in the financial services industry.
Prior to joining M3, Bill was the Chief Executive Officer at WMIH Corp (NASDAQ:WMIH), a public acquisition corporation which was the successor to Washington Mutual, Inc., from May 2015 to July 2018. Bill was recruited to WMIH to oversee its acquisition strategy and manage its day-to-day affairs. While there, he worked closely with WMIH’s strategic financial partner, Kohlberg Kravis Roberts & Co. At WMIH, Bill’s responsibilities included reviewing, vetting and analyzing a large number of potential target companies from a variety of different sectors and industry groups. Ultimately, WMIH acquired Nationstar Mortgage Holdings (NYSE symbol NSM) to form Mr. Cooper Group (NASDAQ:COOP). Bill departed from WMIH upon the closing of the acquisition of Nationstar as his job at WMIH was completed.
Prior to WMIH, Bill was CEO and Chief Risk Officer at Capmark Financial Group, formerly known as GMAC Commercial Mortgage (from March 2009 to May 2015). Bill was retained by Capmark to manage its financial restructuring following the global economic crisis and was responsible for the management of the company’s day-to-day affairs, the restructuring of both the company and its assets (including its $15 billion commercial loan portfolio), its bankruptcy process, and its winding down and distribution of assets to creditors and other stakeholders. Capmark was a highly successful restructuring as Bill and his colleagues significantly increased the recovery value to Capmark’s creditors.
Before joining Capmark, Bill was the Chief Credit Officer of RBS Greenwich Capital, the US fixed income investment banking business of the Royal Bank of Scotland, where he was responsible for all aspects of credit risk management. While at RBS Greenwich, Bill was responsible for a wide variety of US corporations and buy-side companies, including corporate borrowers and debt issuers, financial institutions, industrial companies with captive finance businesses, and a variety of US corporations who traded various securities with or through RBS Greenwich.
Earlier in his career, Bill was a Vice President at First Boston Corporation in that firm’s credit risk management department. At First Boston, Bill was responsible for managing credit risk to a wide variety of corporate issuers and financial institutions. Bill began his career at Chemical Bank, where he completed the bank’s credit training program and then worked as a loan officer in the middle market division and a credit officer in the financial institutions division.
Bill has a B.S. in business administration from Syracuse University and an MBA from New York University.
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