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LMAO! I guess I should have waited.
Looks like Goldman Sachs brought it down to its 0.25 target they spouted a week ago!
Todays announcement gave them the fuel they needed to do so.
Very depressing, to say the least.
Not good LMC did not meet the milestones per agreement is what I gather this mess .
You were saying?
BWAHAHAHA!!!!
Uh oh. Trouble in Foxconn Land.
Mom and Dad are fighting.
Not good.
More institutions buying today!
Go RIDE!
I got me a starter here @$.50 …. Let’s hope this turns around.
Almosthere, agree. I think the market also reacted positively to the news that production has resumed, even if at a low rate.
Thanks for posting this.
I like the fact that this partnership was developed not only to service the endurance, but other “future vehicles developed by Lordstown in collaboration with Foxconn ecosystem.”
Under the terms of the agreement, the two companies will jointly provide EV service and warranty for the Lordstown Endurance™ in key states allowed by law, as well as future vehicles developed by Lordstown in collaboration with the Foxconn EV ecosystem.
Lordstown Motors Taps Amerit Fleet Solutions for Service & Warranty as Production Resumes
April 18 2023
https://ih.advfn.com/stock-market/NASDAQ/lordstown-motors-RIDE/stock-news/90790831/lordstown-motors-taps-amerit-fleet-solutions-for-s
Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors” or the “Company”), an original equipment manufacturer (“OEM”) of electric light duty vehicles focused on the commercial fleet market, and Amerit Fleet Solutions (“Amerit”), a provider of customized fleet maintenance and repair programs nationwide, announced today that it has entered into an agreement for Amerit to provide service and maintenance to Lordstown’s commercial fleet customers.
The Lordstown Endurance™ began commercial production at the Foxconn EV Ohio assembly plant in Q3 2022. Sales started in Q4 2022. Production and deliveries resumed in April 2023 after a pause earlier in the year to address supplier quality issues and are expected to continue at a very low pace.
Under the terms of the agreement, the two companies will jointly provide EV service and warranty for the Lordstown Endurance™ in key states allowed by law, as well as future vehicles developed by Lordstown in collaboration with the Foxconn EV ecosystem.
Amerit is executing plans for the strategic rollout of service locations aligned with Lordstown’s launch plan for initial fleet customers. Prior to the launch of services, Amerit service technicians will complete an extensive safety training program as well as Lordstown’s training curriculum for the Endurance and other future vehicles.
“Amerit is a perfect fit with Lordstown because it is a well-established service provider to the fleet and commercial industry with experience in the service and maintenance of EVs,” said Edward Hightower, CEO & President of Lordstown Motors Corporation. “Our vehicles and connectivity features, combined with Amerit’s mobile service network and innovative maintenance solutions, provide Lordstown with the ability to offer a comprehensive and customized EV experience for our fleet customers.”
“Lordstown is an innovative EV company serving the commercial fleet market, and we look forward to supporting their customers by offering service programs across the US,” said Amerit’s CEO, Dan Williams. “With over 1,800 trained and certified technicians across the country, our customized approach to service programs, and our expertise in providing EV maintenance solutions, we believe that Amerit is ideally suited to rapidly scale services to Lordstown’s Endurance customers and vehicle programs in the future.”
About Amerit Fleet Solutions
Amerit’s trusted and respected team of fleet maintenance professionals leverage a nationwide infrastructure paired with electric and alternative fuel expertise, to provide custom-built maintenance programs to fleets across the country.?Our team of highly skilled technicians and managers provide maintenance and repair programs to over 185,000 vehicles to improve clients’ fleet uptime, safety, and reliability.?Amerit’s comprehensive and innovative service solutions, paired with a customized approach driven by core values of partnership and integrity, deliver peace-of-mind to customers while keeping their assets on the road, anywhere across the country. For more information, please visit www.ameritfleetsolutions.com.
About Lordstown Motors Corp.
Lordstown Motors is an electric vehicle (EV) OEM developing innovative light duty commercial fleet vehicles, with the Endurance all electric pickup truck as its first vehicle and being launched in the Foxconn EV plant in Lordstown, Ohio. Lordstown Motors has engineering, research and development facilities in Farmington Hills, Michigan and Irvine, California. For additional information visit www.lordstownmotors.com.
Saving I think you will be correct!
May5th 10Q willbe exciting while shorts get crushed.
We need a full accounting of where the money has gone. This debacle is criminal.
Excellent and at a steady clip with others on
the MIH EV platform. We will know on the next
10Q on May 4th what RIDE will collect on the JV.
Edward Hightower is President of MIH EV North America.
500 trucks…
BWAHAHAHA!!!!
Hightower has always said they would produce 500 trucks with the finances they currently have.
They are in discussions with OEM’s that would help raise funding for the hard tooling needed for the NEXT phase after the 500 trucks.
THE DISTORTIONS KEEP ROLLING OUT FROM THE FUD’s!
Hightower said they couldn’t produce the Endurance profitably without an OEM. So RIDE decided to re-start production any way and lose more money.
Here is a couple of the short’s lies that poster reported on Reddit:
1. Lordstown motors said in the last CC that they would not resume production until an OEM is secured.
We certainly know this was a false statement, since Lordstown did resume production without an OEM.
2. Lordstown motors has now been delisted from NASDAQ.
Yes another incredible lie, since Lordstown only received a notice and have up to a year to get in compliance before being delisted.
It really is amazing to see the manipulation and falsehoods intentionally spread to try and get the share price lower.
Sounds like he is making a good point!
Some goofball over on Reddit posted this and then was slammed by other posters for spreading falsehoods themselves.
Ironic…LMFAO
“SHOULD SHORTS BE PROSECTED FOR FALSE PROPAGANDA SPREAD ABOUT LORDSTOWN MOTORS.”
Note: the proper spelling is prosecuted, not “prosected.”
WallStreet is being dismantled for algorithm short selling.
The plant is capable of pushing out 400,000 units annually with multiple
assembly lines in operation. I wouldn't drag my feet as just
one announcement could change everything, like before.
We all have made bad decisions like buying in over $30
for an entry when it temporarily shot strait up when Burns
got excited and said 100,000 pre-orders to soon, although
he seriously wasn't off by much.
The plant is capable of pushing out 400,000 units annually with multiple
assembly lines in operation. I wouldn't drag my feet as just
one announcement could change everything, like before.
You may have missed the low already.
Almosthere @ $.37 is when I buy . Maybe @ $.40
Exactly! Youtube kept this info hidden on purpose.
I filed a SEC complaint against Youtube yesterday.
I want to see what else Youtube, who is Google, is hiding
No Shit! I said they were months old as they were kept hidden up until yesterday.
SMFH
Entirely Bull Shit, SMH According to Hightower video,
Lordstown will generate significant revenue through tangibles
established in the MIH JV contract. They will generate boat loads
even if the EV is independent and not even theirs but for somebody else.
The MIH JV will bypass the Endurance revenue and profits.
Lordstown generates income through the systems, design, patents and logistics and
what the MIH JV is all about including design, PATENTS and additional
revenue streams.
Once a blueprint is established, the JV will buy components in bulk
to distribute to the EV collection for individual distribution.
There's a big picture to be looking at without picking it apart.
Every truck they sell LMC is losing money …. Revenue is needed to continue operating but they are in deep shit now and the economy is not helping. LMC is behind by 12 months with Foxconn and we all know if it was not for Foxconn LMC would be chapter 7 or -11 by now. I don’t trust current management and the fact that Burns still owns about 20% of the company he will dump shares anything above his last dump $.87 makes a lot of sense now . About 70 million Burns got from selling stock and he is a free man not even convicted by the SEC yet . Goes to show you how money just buys people here …. It happens everywhere not only in America but the white collar stay in a special house with your kitchen and become your own chef and get to watch Netflix.
“The next quarterly will justify the direction. Revenue and profit will justify the pps."
Yes but this Q you may see $.30. -$.50 swing . I’m waiting on the sidelines .
What video ?
Nothing posted
If they are planning on executing an RS, they should be concerned.
They're not concerned about current SP, me neither.
That video I posted explains this and the magnitude of the big picture.
I add more when it's pulled down like this. It's a blessing
The next quarterly will justify the direction. Revenue and profit will justify the pps.
He better get on the ball. The 1st is not helping the company or stock price out these days.
CEO Edward T. Hightower shares major plans for EV fleet.
Edward Hightower explains MIH EV JV as the CEO of MIH EV
Great video that was hidden for months and just surfaced with a 3 month old date. Why?
We all know the Auto Workers Union hates Lordstown Motors for being non-union but intentionally dismissing and keeping the truth hidden will only hurt ICE unions in the end.
Nobody is shutting unions down or breaking them. They are simply being phased out as Hightower, the CEO of MIH EV explains in video. There is room for both union and non-union and ultimately the worker will be the one who decides where they want to be.
Hightower also explains the compatibility with parts, ecosystems, logistics and supply chains
that will turn the automotive world upside down collectively.
Jack, the CEO of Foxconn said earlier, the Endurance will be the first of the first 100 that
will enter the MIH EV pipeline of production.
12:30 EST now into the .40 cent decent
Wow!
RIDE= DIED
TESLA down 9% today.
Shorts are out with full attack on tech stocks.
Laughable!!
I am far from a short…
Just a highly pissed off investor
Maybe and hopefully they are there to fire Hightower and his entire team…
Tracking plane tail #s
So Sad and desperate!
Figures you would respond that way to any positive DD!
It’s the way of short stuff!
New Last Mile EV Delivery vans pictured in video
with Lordstown Motors trade mark brand.
Amazon? Possibility?
The pictures I posted with the vans were definitely at Lordstown and posted by an employee.
Nobody really cares what you think. Shorts will have their time of getting crushed.
A good follow up post on Reddit:
Now for some information that might make my previous speculative posts, slightly less speculative.
Foxconn has said that they are currently in negotiations with traditional automakers interested in the CDMS services. I've posted a number of times that a Foxconn plane is in LA and that is likely proof that Foxconn is indeed in negotiations in the US with someone. And that the last time that plane was in the US for more than a couple of days, was last Feb 26th through April 9th, when they were likely working out the details of the Lordstown plant sale.
How do I know it's a Foxconn plane? And how do I know it's at Van Nuys Airport?
ADS-B (Automatic Dependent Surveillance-Broadcast) data is data that's transmitted by a planes transponder. A website called 'ADS-B Exchange' allows you to lookup transponder data by registration/tail number. You can't see where a plane is when it's not flying, but you can start on today and keep looking back to the last data that was transponder, and you will know where a plane is now. Keep going back and you will be able to tell when it got there, and where it came from.
I found this article from when Foxconn was working on the Mt Pleasant deal in Wisconsin.
https://preview.redd.it/stxyc0yaxvua1.png?width=757&format=png&auto=webp&v=enabled&s=7a0b1191f1c2f16fb0be99957fd11de9568d36eb
The beginning of the tail number specifies where it's registered. Both China and Taiwan us "B-". Going to ADS-B Exchange and looking at the last recorded transponder data for B-99988 and you will see the last recorded transponder data for the plane was at Van Nuys Airport on 2023-03-01, so the plane has been sitting at Van Nuys Airport since March 1st, that's 7 weeks. And no, the plane is not normally in the US, it was in the US for a few days in January and the last time it was in the US was for the 6 weeks in 2022 before the Lordstown plant sale.
https://preview.redd.it/lctb3z2nxvua1.png?width=1437&format=png&auto=webp&v=enabled&s=4506c53e5b60f8d8fb6b314c7f2de900561b0506
So, what does this have to do with a USPS or a DOD contract? Nothing really, but Foxconn has more than 1 plane!
Here is a photo of another Foxconn plane, it's tail number is B-90609.
https://preview.redd.it/wa6o1pclyvua1.png?width=1514&format=png&auto=webp&v=enabled&s=1453f54118aa274ae761e9dae49bdd7d0bffbd4f
So what is the last recorded transponder data for this plane? It's been in Appleton Wisconsin since March 22nd. What's in Appleton Wisconsin? Not much, but it is the closest international airport to Oshkosh Wisconsin. And Oshkosh Wisconsin is the location of Oshkosh Defense who was awarded the USPS NGDV contract and is a well established defense contractor specializing in military vehicles.
https://preview.redd.it/9u3y4uxqyvua1.png?width=1518&format=png&auto=webp&v=enabled&s=ec50ef1865450756e237d60a0a7d45e0cab89135
Foxconn has $30M+ Gulfstream 5's sitting in both LA and Oshkosh Wisconsin. Can we be certain what they are doing? No, but we can speculate. When Foxconn has flown them into the US for extended periods of time, they were to finalize the legalities of contracts. The last time B-99988 was in the US for a long time it was, like I said just prior to the plant sale. The time before that it was in the US for a number of weeks it was just prior to the signing of "The PEAR Prjoect agreement" ( [https://www.sec.gov/Archives/edgar/data/1720990/000119312521163828/d14073dex101.htm](https://www.sec.gov/Archives/edgar/data/1720990/000119312521163828/d14073dex101.htm) ).
We may not know for certain what is going on, but I think it's likely that whatever it is, it's "in the lawyers hands" and it's likely very good for LMC.
Agree OPKO…
Hightower is a clown !
What a terrible company
Listen folks if the RIDE management had anything to say to elevate the SP they would have already announced it!
It’s over —- no announcement other than delisting, this was a terrible investment for all of us …..
Anything else is just nonsense words.
Game Over here
$.50 is where this belongs but I still see another 25% cut to around $.40 considering their upcoming reverse split and lousy updates and no firm orders of over 2k . This truck is not selling because there is lousy CEO Hightower who put us all here in this mess.
The timing is terrible also based on the economic outlook the next 12 months . Bidenflation and Stagnation
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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