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No Endurance without an OEM partner per Hightower. There’s no mystery here.
What we need is an announcement of production back up and running and news of an OEM contract.
Management is functioning like a bunch of clowns running a circus to date, and the share price is reflecting it!
Lordstown Electric Work Truck - Everything You Need To Know | Startup Showcase
@ KMC-1
I feel ya KMC and I am very sorry for the pain and suffering that you have endured … I don’t know what will happen here with RIDE but it feels bleak at the moment in all directions.
Chin up buddy, never know what can happen … I appreciate all the input regardless…
Be blessed..
WW
Basically the same situation I'm in. Unfortunately, I went in too deep because I believed that Steven Burns would never have lied the way he did (about multiple things; "firm" pre-orders, timeline to be in production, timeline for the truck to get NHTSA approval, value of the factory building and land, etc. etc.) and I'm sitting on a massive loss that I won't be able to recover from financially and has undoubtedly impacted my family's future negatively. And not only does he walk free, he walks free with tens of millions of dollars. That's the other casualty here - trust in our stock market & rule of law.
Good to hear… keep punching man!
If I believed like you, I would sell today.
But I still see the potential.
Yes I’m a true believer!!!
@almosthere
I did believe, I am embarrassed to say my position, I still have tons of stock here but I really don’t believe management will pull up from the nose dive they have created … I don’t short stocks, I invest only, this has been a disaster for me since day 1.
I ll let my shares stay but I don’t see much light at the tunnels ending.
Best,
WW
So you do not believe in the company. Nothing new here.
Have you sold or are you short?
I’m holding long at 0.88. Upside potential is still huge here.
Company isn’t going anywhere with 220 milllion and another 100 milllion coming from FOXCONN.
What I see is shorters continuing to manipulate until company announces production back in play and OEM’s.
Feel sorry for the weak hands being manipulated out of their shares.
I smile at your optimistic hopes..
Major things need to pan out for this to turn positive, I wish you the best .
WW
Good Luck, we're long and strong. No Fear Here.
All the leaves are brown and the sky is gray….
sub -.69 cents
I am sorry guys, I feel it’s over….
Great. Another product that can’t be sold at a profit.
Foxconn brings EV battery production to two U.S. states
https://www.teslarati.com/foxconn-brings-ev-battery-production-to-two-u-s-states/
Tue, March 21, 2023 at 3:22 PM EDT
Foxconn executive suggests company has new plans for Mount Pleasant campus: EV batteries and power storage.
Foxconn says it has invested more than $1 billion in the Racine County site.
Foxconn says it has has used the site for server and motherboard production, although customers have not been publicly identified. The company has been rumored to be assembling servers for Google.
Foxconn currently employs more than 1,000 people in Wisconsin and has received nearly $30 million in tax credits from the state in the last two years for meeting hiring and capital expenditure goals.
https://www.yahoo.com/lifestyle/foxconn-executive-suggests-company-plans-192243869.html
Lordstown Motors stock is undervalued - Why FOX owns 19% of common and 100% preferred $RIDE #MXUX
@ almosthere
That’s great , but that article is from July of 2021! Unless I read something wrong, appreciate the post and read tho, you feel something is behind the curtain on this ?
Best
WW
This could be huge for Lordstown with MIH partnership.
On Reddit:
APPLE CAR
This is a pretty good read....
[https://www.macrumors.com/roundup/apple-car/](https://www.macrumors.com/roundup/apple-car/)
**Apple may** [**instead be planning to work with**](https://www.macrumors.com/2021/07/13/apple-car-battery-united-states/) **Taiwanese manufacturers on batteries that are could be made in the U.S. Taiwan-based Foxconn and Advanced Lithium Electrochemistry both plan to set up factories in the United States that could end up manufacturing batteries for the Apple Car.**
**Wisconsin,......TAX CREDITS?**
**Foxconn is the main assembler of iPhones, and also recently unveiled an electric vehicle chassis and a software platform to help carmakers bring models to market faster. Contract manufacturer Magna is purportedly another possibility, but Apple may also choose to manufacture the vehicle itself.**
Class E series scared shorts, while Hedge Funds crash.
An All-Electric RV by Lordstown Motors Is Finally on Its Way
As the auto industry’s electrification becomes more prevalent, it was only a matter of time before it hit the world of RVs. EV startup Lordstown Motors just announced that it would partner with Camping World to develop an electric RV and electric travel trailer. While established manufacturers such as Airstream have dabbled with electricity in recent years, this is the first time we’ve seen a startup EV carmaker jump into the pond. According to Car and Driver, the yet unnamed electric RV will be classified under “Class E.”
Why would Lordstown Motors build an electric RV?
Why would Lordstown Motors build an electric RV?
Before we dive into the electric RV itself, let’s talk about Lordstown Motors. The EV startup is currently one of many companies racing to design and produce an all-electric pickup truck. However, instead of selling to the general public, Lordstown plans to sell its trucks in a fleet program. As a result, only companies will be able to purchase large quantities of these trucks.
While building an electric RV may seem abnormal for a traditional carmaker, it makes perfect for Lordstown Motors. Aside from building a vehicle capable of towing the travel trailers, the company has experience developing battery technology. As a result, Car and Driver report that the developed battery tech is directly applicable to travel trailers and electric RVs.
Say goodbye to internal combustion and onboard generators
According to Car and Driver, Camping World and Lordstown Motors plan to develop two main products. The first is a range of electrified travel trailers that leave behind onboard generators in exchange for batteries. The second and most ambitious plan is to create a fully-electric RV. According to Car and Driver, there is no mention of exactly what class or size this new RV will fall under, just that the planned name is “Class E.” Additionally, Lordstown Motors claims its pickup truck platform can be modified to underpin RVs of various sizes, meaning most of the tech is likely already developed.
What we do know is that the first batch to arrive will be the electrified travel trailers. Neither the EV startup nor Camping World has established a solid timeline. However, we know that the trailers will be powered by the battery pack rather than onboard generators. Expect the trailer to house solar panels to aid in continuous charging. It is worth noting that an EV is not required to use the electrified trailer.
Service your RV or trailer anywhere in the U.S.
Although this partnership to build an electric RV may seem quite strange on the surface, it is quite strategic. According to InsideEVs, Camping World has over 170 service and collision centers across the U.S. As a result, the technicians on-site can service the electrified RVs and Lordstown’s electric pickup truck as well. The benefit for the EV start-up is that it won’t have to build dedicated service centers to keep its fleet going. The benefit for the consumer is that if you have an electrified travel trailer or RV, you’ll have plenty of places in which you can easily service it if necessary.
Never! The filings give 100% positively, NO SPLIT
Everything you post about this company is utter Bull Shit.
A Forward split near term is more probable.
We read the filings and know the truth. Nobody is selling
and nobody has any fear to sell.
Good Luck
The agreement with Foxconn to purchase their shares is protected.
Foxconn owns 100% of the preferred and 18% common.
Only a Forward Split is accepted. It's all in the filings. SMH
I like how there is a massive recall with LMC. 19 trucks being recalled, 14 of them never left the plant. Hahahah they are
Really putting out some volume
What? Foxconn is dumping all their shares? Where you hear this from. Makes sense though. It’s over here.
“The results of many of our collaborations will be realized one after the other in 2023,” the company said in a statement to Reuters. “
MIH platform will bear fruit for both FOXCONN and Lordstown!
"Foxconn is charting a course toward becoming a key assembler for the world’s major manufacturers."
https://cleantechnica.com/2023/03/19/foxconn-wants-to-manufacture-half-of-all-electric-cars/?fbclid=IwAR2aTdmJya7MrWPuBFYWthC5pVJsNGddsgn0QmJP_SsWRgzpODVaBu6jQmc
But they don’t have $220M. They have $150M to $170M.
Less cost means high production output.
This is why?
Bankruptcy speak is nonsense when Lordstown has 220 million cash and another 100 million coming soon from FOXCONN!
Why would FC want to make the cost of production less? The benefit to them putting Lordstown out of business is they will buy the IP for pennies on the dollar if they go out of business. They don't want to make trucks for someone else, especially on low margin. They want to make the MIH platform products for themselves.
The whole situation is stupid and this is obviously heading into bankruptcy soon.
MIH Consortium Unveils Innovation Hub Plan to Strengthen EV Ecosystem in North America Plans to build an innovation hub near Foxconn Ohio facility with global supply chain partners
Hon Hai Technology Group (Foxconn), a global leader in smart manufacturing, introduced MIH, its software and hardware open platform for EVs, in 2020 and initiated the formation of the MIH Consortium in 2021. Foxconn aims to position MIH as the “Android system of the EV industry.” Foxconn is inviting automakers, manufacturers, and supply chain partners to join the MIH to collaborate. MIH’s mission is to lower barriers to entry into the EV industry, accelerate innovation, and shorten development cycles by realizing key technologies and developing reference designs and standards. Currently, the MIH has more than 2,500 members.
Lordstown doesn't manufacture hub motors.
they buy them in just like steering wheels.
they help design/specify and test them but they are not made in Ohio by Lordstown or Foxconn.
Was amazed they only got 200 or so supplied last year when expected release was in 2021. So may be Foxconn will start to make them?
IMHO the delays of restarting production is more about supply chain guarantees like the hub motors than any recalls. They may be waiting to switch battery technology as well. but once the line starts up however slowly they cannot afford to stop it. So supply chain is imperative
Go ask Hightower padre!
But down how far?
Everyone knows securing an OEM is going to bring endurance cost down.
Do you really think you are telling us something we don’t know!
Lordstown also said cost of production exceeds price and they need an OEM.
I found a post on stocktwits which makes a lot of sense .
“muck 30 11:24 AM
$RIDE What is LMC's value to FoxConn? They are their only partner so far to have homologated and brought a certified EV platform to market in the US. The MIH consortium needs that experience for their Project X initiatives and LMC is at the ground floor of designing the chassis for each of that project's platforms. MC's business model should just be a supplier of chassis for the
3-seater, 6-seater, and 9-seater platforms and take purchase orders from up fitters who want to their own commercial body slapped on an MIH platform. Turn profit there first and establish a customer base with up fitters and then reintroduce an Endurance branded pickup on that same platform at a later date when they got better cash flow. Bullish”
Lordstown in all their communication has stated their commitment to move forward with promoting and seeking fleet contracts for the Endurance.
I will stick with what they have communicated in their quarterly reports and conference calls rather than the chatter I hear on different boards.
In regard to fixing recalled vehicle issues, taking Ford over a month to fix recalls before production started again. Hightower communicated similar time frame for Endurance!
HEllO!
There in NO pucking way it takes 2 months to fix recalls on 19 trucks and especially when it’s a voluntary recall . At max one to 3 weeks . Something here is very , very fishy and it stinks !
Does it really take that long to fix the issue at hand ? Really ?
LORDSTOWN, Ohio, Feb. 23, 2023 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors,” “LMC” or the “Company”), an original equipment manufacturer (OEM) of electric vehicles focused on the commercial fleet market, today announced that it will release its fiscal year 2022 financial results before market open on Monday, March 6, 2023. The Company will then host a conference call at 8:30 a.m. Eastern Time.
Lordstown Motors Corp. also announced today that it has experienced performance and quality issues with certain Endurance components that have led the company to temporarily stop production and customer deliveries since our last production update in January. The team is diligently working with suppliers on the root cause analysis of each issue and potential solutions, which in some cases may include part design modifications, retrofits, and software updates. In this regard, LMC has filed paperwork with the National Highway Traffic Safety Administration (NHTSA) to voluntarily recall the Endurance to address a specific electrical connection issue that could result in a loss of propulsion while driving. Lordstown is working with its supplier network to implement a corrective action that the Company believes will address this issue. The recall will affect 19 vehicles that are either in the hands of customers or being used internally by LMC. Vehicles waiting for shipment and vehicles in process at the manufacturing plant will also be retrofitted with the corrective action once components are available.
“While our experienced team has made significant progress in addressing the underlying component and vehicle sub-system issues affecting the Endurance build schedule, we remain committed to doing the right thing by our customers and to resolve potential issues before resuming production and customer shipments,” said Edward Hightower, Lordstown Motors CEO & President. LMC intends to provide a more detailed update on the status of these matters on its upcoming earnings call.
I believe that the Endurance will be put aside for a while and LMC is going to focus on the Hub motors to sell to other auto manufacturers. LMC did disclose to Foxconn that they wanted to scrap production but Foxconn said no. The silence here tells me that LMC is regrouping fast to save from going BK. IMHO
Lordstown has been manufacturing their own battery packs and modules for the endurance.
It’s a fact Jack! Foxconn will lean on their knowledge.
This is no doubt going to be part of the MIH partnership and will bring significant revenue to Lordstown IMHO!
“Lordstown manufacturing knowledge”
What the heck is that? And what does it mean in dollars and cents for RIDE?
Foxconn doesn’t have “manufacturing knowledge”?
BWAHAHAHA!!!!
Endurance truck modules and battery packs are currently being made at Lordstown.
With Foxconn’s plans to mass produce EV batteries at Ohio plant it seems reasonable that they will lean heavily on Lordstown manufacturing knowledge, and experience for this as part of MIH partnership.
This should be huge for Lordstown and surprised there has been little discussion on this board about it.
Go RIDE!
$0, not even made in Ohio at the moment. May have been a one time payment for some MIH consultancy but no one knows who pays for what there.
How much $$$ accrues to RIDE from each Monarch tractor sold? Simple question. Should yield a simple answer.
Monarch and Indi haven't stopped. Lordstown defect was a simple washer which has been already changed out. Just because it's not on TV doesn't mean they're sleeping at the wheel.
Amphenol Interconnect Products Corp., suspected sabotage of LMC parts.
First 19 recalled from a faulty connector and now a faulty washer on the brake caliper.
3 strikes and you're out is the message to Amphenol Interconnect Products Corp from shareholders of LMC.
Two different products in a month.
With Rivian Recall of 200,000 and Ford recalling 1.5 million EV's makes one wonder if EV's are under attack from big oil.
Thank God Hightower nipped it in the bud as it could have been painful like Ford and Rivian.
https://businessjournaldaily.com/lordstown-motors-addresses-brake-defect-on-endurance/
Foxconn already did. Foxconn owns 100% of the preferred and 18% of the common with 2 chairs on Lordstown Motors executive board.
REASEARCH will educate.
Yes because we all know that FOXCONN has absolutely no vested interest in Lordstown, no millions invested in them, no manufacturing partnership.
LMFAO!
Foxconn doesn’t need to find an OEM. RIDE does. Foxconn will be fine…when it takes over the rest of RIDE.
https://businessjournaldaily.com/former-lordstown-motors-ceo-sells-off-more-stock-brings-net-total-to-59m/
Only in America ! White collar crime to its fullest . Where is the SEC ? Oh yeah watching porn !
http://www.cnn.com/2010/POLITICS/04/23/sec.porn/index.html
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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