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Yes, Plant will return to LMC/NU Ride Inc. as Foxconn defaulted on $170,000,000 payment.
LMC was already handed the keys with First Day motions. Foxconn never followed through with purchase agreement.
NU Ride Lawsuit against Foxconn exceeds 5.2Billion in damages.
This is far from over and will be just the beginning of a massive conglomerate. Just one simple announcement sends $NRDE strait up.
***** NOPE ! The plant is long gone and has zero to do with NRDE ( Pu ride ) , whoops
ENOUGH SAID
***** Absolutely meaningless!!! NRDE ( Pu ride ) has emerged as a shell company nothing more --- Wh👀ps
ENOUGH SAID
Lordstown successor emerges with Foxconn suit plan, tax breaks in hand
Nearly nine months after filing Chapter 11 papers, Lordstown Motors Corp. has re-emerged as Nu Ride Inc. with cash in the bank and a primary purpose of settling its litigation against contract manufacturing giant Foxconn, which in 2022 bought Lordstown’s factory and pledged more financial support before backing out.
Lordstown had taken over the former General Motors Corp. plant in its namesake Ohio town to build the Endurance pick-up truck—for which it claimed more than 100,000 pre-orders in early 2021. However, procurement and manufacturing problems led to delays and a massive cash crunch that even the $230 million factory sale to Foxconn's parent company, Hon Hai Technology Group, could only temporarily relieve. Foxconn later promised a $170 million direct investment in Lordstown, but the company’s leaders retreated when Lordstown's shares faced delisting in early 2023.
FleetOwner archives: Lordstown Motors, eyeing a comeback, calls on Joe Burrow
That essentially doomed Lordstown’s prospects. In May 2023, its executives sued Foxconn, claiming the latter had struck the companies’ deal in bad faith to force a Lordstown bankruptcy that would allow Foxconn to acquire its assets cheaply. Last September, three months after Lordstown had filed for protection from its creditors, former CEO Steve Burns acquired the bulk of its assets for his new venture, LandX.
Present-day Nu Ride has roughly $78 million in cash on hand, a new board of directors, and its most valuable assets: nearly $1 billion in federal net operating losses plus another $880 million in state net operating losses. Those losses can be carried forward and used to offset net income in future years, either from Nu Ride itself or—with some careful planning—a profitable company with which it merges for what tax regulators consider a legitimate business purpose.
Restructuring veteran William Gallagher is in line to step up as president and CEO of Nu Ride. Since 2009, Gallagher has helped restructure the former GMAC Commercial Mortgage and led the successor company to Washington Mutual when it emerged from its implosion with roughly $6 billion in NOL carryforwards. The latter entity merged in mid-2018 with Nationstar Mortgage Holdings; the combined company now goes by Mr. Cooper Group Inc. and is still whittling down the NOLs. "COOP now trades for $90 pps"
On their website, Nu Ride’s leaders say one of their goals is to “identify, evaluate, and pursue one or more potential business combinations or acquisitions.” How long that might take is anybody’s guess. Until then, you can find the company’s shares on the OTC Pink Market under the ticker NRDE.
https://www.fleetowner.com/emissions-efficiency/article/55000359/nu-ride-inc-a-new-beginning-for-foxconn-and-lordstown-motors
Filings indicate that "Legacy Lordstown Motors" became a subsidiary of newly formed NU Ride Inc. NRDE
Legacy Lordstown Motors had plans for an Electric Van and RV for Camping World.
https://www.foxnews.com/auto/electric-rv-camping-world-lordstown-motors
***** Facts are NRDE
They cannot be disputed
ENOUGH SAID
Stop posting lies. NoRide has neither a manufacturing base or an electric car. NoRide sold ALL of its IP and is a shell with no means of generating revenue.
It has NOLs and the chance of getting some cash in its suit against Foxconn…while it burns cash on legal fees.
***** Meaningless ! and still no pictures of NRDE vehicles i see - whoops
FYI NRDE has no vehicles period
ENOUGH SAID
$NRDE- NU RIDE~ Multiple Opportunities for Strong Gains/ Debuted March '24 🧙♂️Zidar On Top & Hot🔥
NoRide has NO manufacturing base. NoRide has no IP. Stop lying.
Good grief, do you make everything up?
1) Nu Ride isn't becoming a conglomerate. There is nothing to support that at this time. This trades at around $1.70 and is a shell. Fact. This doesn't mean that it won't do what COOP did, but nothing has happened here of note.
2) I think you are wrong about the plant. It was purchased and paid for according to the company (check NRDE's filings). If they claim it wasn't paid for, then they are lying. It never belonged to the shareholders, but the company in the first place, but I understand what you are saying.
3) Nu Ride is now debt free. True. I agree.
4) They have cash. True. I agree.
5) They have never had a strong manufacturing base. I don't know what you are talking about. They only made less than 100 cars, based on my reading.
6) Your MSN article is just wrong and not journalism at all. There are no plans to continue to work on the Endurance, as they don't even own it. What makes you think this is a good link?
7) What does Trump have to do with this? That was multiple years ago before the company failed. There is no other conclusion than they failed.
8) While I don't think they will win billions (there isn't that kind of damage to the company), I think they will get substantial cash.
Do better research, or do actual research for a change.
That picture of the car isn't even one that then Lordstown was involved in. That's just a generic picture of a now defunct electric vehicle which isn't being made by anyone. Good grief.
Okay, I do understand the hope you have for the company, given the success of COOP. COOP isn't a car company either, so it's a completely different industry. I didn't see any car guys on the board for NRDE, so where do you think they have all this EV experience? Nevertheless, they did manage COOP well, at least well enough for the stock price to go to $90. That is certainly reasonable.
***** Meaningless ! and still no pictures of NRDE vehicles i see - whoops
FYI NRDE has no vehicles period
ENOUGH SAID
NU Ride Inc., clearly becoming a conglomerate. The CEO did the same with COOP which is now trading above $90 PPS.
The Ohio Plant will return to shareholders and we're off.
Nu Ride Inc. recently announced that they are now debt-free and have a significant amount of money in their bank account, giving them a promising start. With a strong manufacturing base and an electric car to build upon, they have the potential to create a successful EV business. The company was praised by Trump in the past and they aim to continue their success.
Can Nu Ride Inc Create Success. Grace says YES!
https://www.msn.com/en-us/money/companies/10-things-that-will-change-as-lordstown-motors-emerges-from-bankruptcy/ar-BB1kZuoA
C/O M3 Partners; 1700 Broadway, 19th Floor; New York, NY 10019
NU RIDE INC
2300 Hallock Young Road
Lordstown, NY 44481
Buys
9
Sells
0
Total
9
Shares
Bought
1,243,661
Sold
0
Gross
1,243,661
Net
1,243,661
https://www.otcmarkets.com/stock/NRDE/disclosure
***** Boogeyman Banks and Hedge Fund Director getting ready to dump $1.2 million in stock.???
RUT ROH
ENOUGH SAID
Held tight with tiny float and Director bought $1.2 million in stock.
Boogeyman Banks and Hedge Funds fear $NRDE
Could explode any time with Foxconn settlement for Billions. It's coming.
*****NRDEs Stagnant PPS is a clear indication of a failing company and terrible management
ENOUGH SAID
Recently means March 18. Andrew Sole hasn't bought anything since. What's your point?
***** LMAO ! Empire ? NRDE ( Pu ride ) has squat period and the BOD is riddled with private equity -- Wh👀ps
ENOUGH SAID
Valued at $5.3 billion. Stage being set. Case moves on.
Naming all of Hon Hai Precision Industry )
Co., Ltd (a/k/a Hon Hai )
Technology Group), )
Foxconn EV Technology, Inc., )
Foxconn Ventures Pte. Ltd., )
Foxconn (Far East) Limited, )
and Foxconn EV System LLC, )
Defendants.)
Entire Document
https://veritaglobal.net/lordstown/document/2310831240807000000000010
Here's what NoRide brings to the table...any table.
...Net Operating Losses (NOL) that ANY publicy-traded company that actually makes a PROFIT (unlike the predecessor to NoRide) can use for tax purposes.
NOL...that is NoRide's biggest asset. How do I know that? Because NoRide's CEO says as much in NoRide's SEC filings.
You see...NoRide owns NO IP. And NoRide has NO MEANS OF PRODUCING REVENUE.
How do I know that?
Once again...I rely on what NoRide's CEO files with the SEC.
An Empire in the making with an all star BOD
***** LMAO ! Theres nothing to build here for poor ole NRDE ( Pu Ride ) its over -- Wh👀ps
ENOUGH SAID
A conglomerate is being built (10Q) Same players who built back COOP now trading over $90 pps.
NU Ride Inc. structured for massive growth. Andrew L. Sole recently cash at the market purchased $1.2 million in common stock.
***** Meaningless ! and still no pictures of NRDE vehicles i see - Wh👀ps
ENOUGH SAID
NU Ride Inc. BOD's are all Financial Fund Managers ready to take NRDE to new heights. With the 5Billion dollar lawsuit against Foxconn with the Ohio Plant, NU Ride Inc. now has the team in place to make things happen. Director Andrew L. Sole recent made a 1.2 million dollar investment in NRDE common stock.
This line up will Surly get the party started.
Alexander C. Matina
Mr. Matina is expected to serve as a director beginning on the Effective Date. Mr. Matina has served as the Portfolio Manager of MFP Investors LLC, the family office of Michael F. Price that invests across both public and private markets, since 2007. He also has served on the board of directors of T.G.I. Friday’s, a private casual dining company, since 2019, Crowheart Energy LLC, a private energy company, since 2017, S&W Seed Company, a publicly traded agricultural company, since 2015, and Trinity Place Holdings Inc., a private real estate development firm, since 2013. Mr. Matina previously served on the board of directors of Madava Financial, a private, energy-focused finance company, from 2017 to 2021, and Papa Murphy’s, a pizza franchise, from 2017 to 2019. Mr. Matina graduated from Fordham University (summa cum laude, with a B.S. with concentrations in finance and accounting. He also received his MBA in Finance from Columbia University.
Andrew L. Sole
Mr. Sole is expected to serve as a director beginning on the Effective Date. Mr. Sole has served as the Managing Member of Esopus Creek Advisors LLC, the general partner of the private investment fund, Esopus Creek Value Series Fund LP and its associated series, since 2005. Mr. Sole earned a B.S. in Mathematics from Union College and a J.D. (cum laude Order of the Coif) from the Benjamin N. Cardozo School of Law.
Michael J. Wartell
Mr. Wartell is expected to serve as a director beginning on the Effective Date. Mr. Wartell served as the Co-Chief Investment Officer and Owner of Venor Capital Management LP, a private investment management company, from 2005 to 2023. He has also served on the board of directors of Imperium3 New York, Inc, a private energy manufacturing company, since 2023, and Rotech Healthcare, Inc., a private healthcare products company, since 2014. He earned a B.S.E. (cum laude) with concentrations in Finance and Accounting from the Wharton School at the University of Pennsylvania.
Neil Weiner
Mr. Weiner is expected to serve as a director beginning on the Effective Date. In 2006, Mr. Weiner founded and, until 2021, served as Chief Investment Officer of Foxhill Capital Partners, LLC, the investment manager of the Foxhill Opportunity Fund, L.P,. a private fund focused on distressed and special situation investments. He previously served on the board of directors of Cambium Learning Group, a private education technology company, from 2010 to 2013 and was chairman of the audit committee. Mr. Weiner holds a B.A. from the University of Pennsylvania and an MBA from The Wharton School at the University of Pennsylvania.
Alexandre Zyngier
AMr. Zyngier is expected to serve as a director beginning on the Effective Date. Mr. Zyngier has served as the Managing Director and Founder of Batuta Capital Advisors LLC, a private investment and advisory firm, since 2013. He has also served on the board of directors of Arrival SA, a public electric vehicle company, since September 2023, Slam Corp, a public special purpose acquisition company, since February 2023, Schmitt Industries, a public industrial measurement manufacturer, since November 2021, EVO Transportation & Energy Services, Inc., a public trucking contractor, since November 2020, COFINA Puerto Rico, the taxing authority of Puerto Rico, since February 2019, Tetralogic Pharmaceuticals, a private biotech company, since January 2017, and Atari SA, a public video game company, since August 2014. Mr. Zyngier previously served on the board of directors of Appvion Holding Corp, a private paper and packaging company, from February 2019 to December 2021, GT Advanced Technologies Inc., a private advanced materials company, from March 2016 to November 2021, Torchlight Energy Resources Inc., a public exploration and production company, from June 2016 to June 2021, Eileen Fisher Inc., a private retail company, from November 2020 to May 2021, Formulus Blank Inc., a private software company, from February 2019 to July 2020, Applied Minerals Inc, a public advanced materials company, from December 2017 to July 2020, AudioEye, Inc, a public software company, from September 2015 to July 2020, First Contact Entertainment Inc, a private video game company, from April 2017 to July 2020, and LootCrate Inc., a private retail company, from December 2017 to October 2019. Mr. Zyngier earned his MBA in Finance and Accounting from the University of Chicago.
Repeating a lie doesn’t make it any less of a lie.
NoRide is a shell. Just ask the CEO.
Another lie. NoRide can’t “increase” what it doesn’t have: production…in any way, shape, or form.
Stop lying.
Plan Of Action
Nu Ride Inc. aims to utilize cash reserves strategically.
Investigating causes of action to address legal disputes.
Exploring business combinations or acquisitions for growth.
Emphasizes debt reduction and maintaining a clean balance sheet.
Strategic resource allocation for sustainable growth.
NuRide believes that using its cash and intangible assets wisely is important for its future growth. Investigating and prosecuting causes of action can help the company mitigate financial risks by resolving legal disputes and seeking compensation for damages. The company's commitment to reducing debt and maintaining a clean balance sheet underscores its determination to position itself for sustainable growth and profitability.
Interest In Business Combinations Or Acquisitions
Nu Ride Inc. recently announced they are interested in exploring new business combinations or acquisitions. This may mean they want to merge with another company or increase their own production. Lordstown Motors is a small electric vehicle (EV) company that has faced challenges in producing a significant number of vehicles. Merging with another company could potentially increase their production rates and profit margins. However, it’s important to note that a merger could result in Lordstown Motors losing its identity as an independent company.
Looking For Business Opportunities
Interest in exploring new business combinations or acquisitions.
Target industries include EV technology firms and battery manufacturers.
Synergies such as vertical integration are key considerations.
Regulatory and legal factors influence feasibility.
Reflects commitment to innovation and growth in the EV market.
Nu Ride Inc. wants to expand and diversify. They could be considering merging with EV technology firms, battery manufacturers, or mobility service providers. To make sure these mergers create value, they must evaluate synergies such as vertical integration, technological innovation, or market access. They must also consider regulatory and legal factors, including antitrust laws and intellectual property rights.
Legal Dispute With Foxconn
Lordstown Motors has filed a complaint against Foxconn, alleging that Foxconn used its contractual arrangements with Lordstown in bad faith to destroy Lordstown's business. It had collaborated to create an innovative vehicle development platform, but Lordstown claims that Foxconn had no intention of fulfilling their commitments. This legal dispute could have significant implications for both companies, impacting their reputation, financial stability, and future collaborations.
Problems With Foxconn
Legal dispute with Foxconn over partnership.
Allegations of bad faith and contractual breaches.
Implications for both companies' reputations and finances.
Uncertainty surrounding legal proceedings.
Need for resolution to safeguard interests.
Two automotive companies are involved in a legal dispute that could disrupt their ongoing collaborations and future innovation efforts. The dispute might also harm investor confidence, leading to negative impacts on stock prices and market valuation. Furthermore, it could cause potential partners or investors to approach future collaborations with caution, which could affect the companies' ability to secure strategic alliances and funding for future projects. To prevent these broader repercussions and restore trust in the industry, it is essential to resolve the dispute quickly and amicably.
Everybody will be caught by Surprise.
Re-branding And Future Direction
Following Foxconn's acquisition of the factory, the company only managed to produce a small number of vehicles, many of which were also recalled. The company aims to establish a new identity and build something innovative while continuing their focus on electric vehicles (EVs) with the goal of becoming a successful EV company. To achieve this, they will need to adhere to their values and try to change the negative perception of people who may have been let down in the past.
Problems To Iron Out
Rebranding as Nu Ride Inc. signifies a fresh start.
Focus on reshaping brand image and market perception.
Clear communication of values and vision.
Efforts to regain trust and credibility.
Commitment to electric vehicle innovation remains.
RIDE's decision to rebrand signifies a strategic shift in the company's identity and market positioning. By distancing themselves from past difficulties and controversies, the company aims to redefine its brand image and set a new course for growth and success Clear communication of the company's values, vision, and commitment to innovation and sustainability will be crucial in gaining trust and credibility in the market.
Once again...NoRide has no manufacturing base...strong or weak. Stop lying by posting the lies of clueless authors.
NoRide is a shell company with no means of producing revenue. Every NoRide filing says so. Prove me wrong...and seek help.
NU Ride Inc., clearly becoming a conglomerate. The CEO did the same with COOP which is now trading above $90 PPS.
The Ohio Plant will return to shareholders and we're off.
Stop lying. NoRide owns no IP or manufacturing capability. NoRide's SEC filings clearly state that NoRide is a shell company with no means of producing revenue...and no revenue produced.
As usual your photos have absolutely nothing to do with NuRide/Lordstown.
One photo is of a Toyota bZ24. Has nothing to do with NRDE/RIDE
One photo is the Fisker (black car). The company recently went bankrupt. Currently unrelated to NRDE/RIDE.
Everything You Need To Know About EV Battery Warranties And Manufacturer Coverage
It's always good to know your EV's battery coverage. Here are some facts about the industry you may be surprised to learn.
Optimism For Future Success
Nu Ride Inc. recently announced that they are now debt-free and have a significant amount of money in their bank account, giving them a promising start. With a strong manufacturing base and an electric car to build upon, they have the potential to create a successful EV business. The company was praised by Trump in the past and they aim to continue their success.
Can Nu Ride Inc Create Success
Nu Ride Inc. in advantageous position with no debt and cash reserves.
Potential for exciting opportunities in the EV market.
Building upon existing foundation for success.
Previous endorsement by Trump reflects past potential.
Hopes for fulfilling previous success and overcoming challenges.
Despite past setbacks, Nu Ride Inc. has found newfound financial stability and strategic positioning, giving them reason for optimism. Their solid financial foundation and clear vision for the future put them in an ideal position to take advantage of emerging opportunities within the EV market. By utilizing their expertise, resources, and partnerships, they can drive innovation, expand their market presence, and deliver value to both shareholders and customers. Although challenges and uncertainties will remain, the company's resilience and determination to succeed bode well for their prospects within the dynamic and evolving automotive industry.
https://www.msn.com/en-us/money/companies/10-things-that-will-change-as-lordstown-motors-emerges-from-bankruptcy/ar-BB1kZuoA
Bullish Bullish
How embarrassing for you. You post an article that says that NoRide still makes vehicles.
And the article also says this:
“To improve profitability, the company could consider strategies like optimizing production processes, exploring new revenue streams, or enhancing marketing efforts to boost sales.”
Obviously, the author of this drivel has no idea that NoRide sold all its IP and production capability…and is a shell company with ZERO means of producing revenue.
BWAHAHAHA!!!
10 Things That Will Change As Lordstown Motors Emerges From Bankruptcy
Lordstown Motors is a small but ambitious company that was bound to make electric vehicles (EVs). It faced challenges that tested its resilience and determination. Lordstown Motors' journey, starts from its promising beginnings to its recent struggles, and the prospects for its future under a new name.
Lordstown Motors made a big impact in the EV market with their flagship electric pickup truck, the Lordstown Endurance, which promised innovation and sustainability. But, the company faced difficulties. Lordstown Motors bankruptcy, citing a dispute with Foxconn as a primary factor. This caused a significant drop in the company's stock value, leading to speculation about its future viability.
Despite these financial difficulties, Lordstown Motors managed to navigate through bankruptcy proceedings, emerging with their assets intact and debts cleared. The company's re-branding signifies a fresh start and renewed determination to carve out a niche in the competitive EV market.
As Nu Ride Inc. moves forward, critical questions remain: Can it overcome past setbacks and regain investor confidence? Will its strategic initiatives and product innovations propel them toward success in an increasingly crowded industry? This article will delve into the intricacies of Lordstown Motors' journey, examining its challenges, opportunities, and the potential for a new chapter of growth and prosperity under a new banner.
In order to give you the most up-to-date and accurate information possible, the data used to compile this article was sourced from Lordstown and Nu Ride, and other authoritative sources like the USCourts.
How Bankruptcy Affects The Future Of The Lordstown Endurance Electric Pickup Truck
Lordstown Motors is in big trouble. Bankruptcy, lawsuits, and now an SEC charge? Here's what will happen to the Endurance pickup truck.
Bankruptcy And Retention Of Assets
In 2023, Lordstown Motors filed for Chapter 11 bankruptcy due to various challenges, but strategically retained assets to continue operations under Chapter 11 protection. This allowed them to preserve vital resources for future endeavors, which likely involved negotiations with creditors and debt restructuring.
Coming Out Of Bankruptcy
Upholding Commitments to Stakeholders
Retaining Assets
Company Is Now Debt Free
Shares Fallen
Lordstone Motors Have 'Cash In Hand'
As part of its efforts to navigate the process, it implemented leadership changes and financial recovery initiatives, including cost-cutting measures. However, the filing coincided with a dispute with Foxconn, which led to a significant drop in shares. Despite this setback, Lordstown Motors emerged from bankruptcy debt-free and with cash on hand. it remains committed to developing the Lordstown Endurance and expanding its vehicle lineup, demonstrating resilience and a determination to move forward.
Financial Changes
Nu Ride Inc. (formerly Lordstown Motors) has a complex financial situation. On one hand, the company has $18 million in cash reserves, but on the other hand, it has a net operating loss of $1 billion, indicating significant financial difficulties. To understand the reasons behind this loss, it's essential to analyze factors such as high production costs, low sales volumes, or unexpected expenses.
Nu Ride Inc.
The financial crisis led to Chapter 11 bankruptcy.
The dispute with Foxconn caused shares to drop.
Emerged from bankruptcy debt-free with cash reserves.
Plans to continue working on Lordstown Endurance.
Focus on developing additional vehicles.
To improve profitability, the company could consider strategies like optimizing production processes, exploring new revenue streams, or enhancing marketing efforts to boost sales. It's also crucial to consider investor sentiment and market reactions to the company's financial status, which can provide valuable insights into its future prospects. As a publicly reporting company, Nu Ride Inc. is subject to the periodic reporting requirements of the Securities and Exchange Act of 1934.
https://www.youtube.com/watch?v=8PQyCdSvdFg
Lordstown Motors produces electric vehicles, its only vehicle, the electric pickup truck called the Lordstown Endurance. Despite facing bankruptcy, the company has emerged and is now hoping to continue production of the Endurance. The vehicle was first released in September 2022 and has been on the market for a while. However, production stopped in June 2023, and only a few vehicles were sold during that period.
Maximizing Assets
Lordstown Endurance faced production and sales challenges.
Production delays and quality control issues impacted sales.
Customer feedback highlighted areas for improvement.
Strategies needed to address production and quality issues.
Innovation crucial for future model success.
To achieve a positive balance, Lordstown Motors needs to improve production and sales efforts for the Endurance, despite recent setbacks. The Endurance faced significant challenges, including production delays, quality control issues, and limited sales. Customer feedback and reviews highlighted areas for improvement, such as range, performance, or design. Lordstown Motors must address these challenges to regain momentum. Innovations in battery technology, manufacturing processes, and marketing strategies could revitalize interest in the Endurance and solidify its position in the competitive EV market.
Utilization Of Cash And Intangible Assets
NuRide plans to use its cash and intangible assets in two main ways. Firstly, the company wants to investigate and prosecute its causes of action to resolve legal disputes and seek compensation for damages. Secondly, it wants to identify and pursue one or more business combinations or acquisitions. The company has no debt, except for certain liabilities related to general unsecured claims filed in the bankruptcy case.
Plan Of Action
Nu Ride Inc. aims to utilize cash reserves strategically.
Investigating causes of action to address legal disputes.
Exploring business combinations or acquisitions for growth.
Emphasizes debt reduction and maintaining a clean balance sheet.
Strategic resource allocation for sustainable growth.
NuRide believes that using its cash and intangible assets wisely is important for its future growth. Investigating and prosecuting causes of action can help the company mitigate financial risks by resolving legal disputes and seeking compensation for damages. The company's commitment to reducing debt and maintaining a clean balance sheet underscores its determination to position itself for sustainable growth and profitability.
Interest In Business Combinations Or Acquisitions
Nu Ride Inc. recently announced they are interested in exploring new business combinations or acquisitions. This may mean they want to merge with another company or increase their own production. Lordstown Motors is a small electric vehicle (EV) company that has faced challenges in producing a significant number of vehicles. Merging with another company could potentially increase their production rates and profit margins. However, it’s important to note that a merger could result in Lordstown Motors losing its identity as an independent company.
Looking For Business Opportunities
Interest in exploring new business combinations or acquisitions.
Target industries include EV technology firms and battery manufacturers.
Synergies such as vertical integration are key considerations.
Regulatory and legal factors influence feasibility.
Reflects commitment to innovation and growth in the EV market.
Nu Ride Inc. wants to expand and diversify. They could be considering merging with EV technology firms, battery manufacturers, or mobility service providers. To make sure these mergers create value, they must evaluate synergies such as vertical integration, technological innovation, or market access. They must also consider regulatory and legal factors, including antitrust laws and intellectual property rights.
Legal Dispute With Foxconn
Lordstown Motors has filed a complaint against Foxconn, alleging that Foxconn used its contractual arrangements with Lordstown in bad faith to destroy Lordstown's business. It had collaborated to create an innovative vehicle development platform, but Lordstown claims that Foxconn had no intention of fulfilling their commitments. This legal dispute could have significant implications for both companies, impacting their reputation, financial stability, and future collaborations.
Problems With Foxconn
Legal dispute with Foxconn over partnership.
Allegations of bad faith and contractual breaches.
Implications for both companies' reputations and finances.
Uncertainty surrounding legal proceedings.
Need for resolution to safeguard interests.
Two automotive companies are involved in a legal dispute that could disrupt their ongoing collaborations and future innovation efforts. The dispute might also harm investor confidence, leading to negative impacts on stock prices and market valuation. Furthermore, it could cause potential partners or investors to approach future collaborations with caution, which could affect the companies' ability to secure strategic alliances and funding for future projects. To prevent these broader repercussions and restore trust in the industry, it is essential to resolve the dispute quickly and amicably.
Looks Like EV Startup Fisker Inc. Is About To Hit A Dead End
Reliable sources confirm that Fisker Inc. could soon file for bankruptcy.
Re-branding And Future Direction
Following Foxconn's acquisition of the factory, the company only managed to produce a small number of vehicles, many of which were also recalled. The company aims to establish a new identity and build something innovative while continuing their focus on electric vehicles (EVs) with the goal of becoming a successful EV company. To achieve this, they will need to adhere to their values and try to change the negative perception of people who may have been let down in the past.
Problems To Iron Out
Rebranding as Nu Ride Inc. signifies a fresh start.
Focus on reshaping brand image and market perception.
Clear communication of values and vision.
Efforts to regain trust and credibility.
Commitment to electric vehicle innovation remains.
RIDE's decision to rebrand signifies a strategic shift in the company's identity and market positioning. By distancing themselves from past difficulties and controversies, the company aims to redefine its brand image and set a new course for growth and success Clear communication of the company's values, vision, and commitment to innovation and sustainability will be crucial in gaining trust and credibility in the market.
Impact Of Factory Halt And Lessons Learned
Lordstown Motors, located in Ohio, had to halt production due to bankruptcy and financial struggles. The factory was previously owned by General Motors (GM) and is one of the largest in the USA. Despite having an advantageous location, the company faced challenges in building cars on time while maintaining quality standards. However, Lordstown Motors intends to use this experience to establish a dependable factory and company.
Production Rate Can Start To Grow
Halt in production at Lordstown factory due to financial issues.
Despite its prime location, faced challenges in production.
Lessons learned include the importance of operational efficiency.
Investments needed for reliable and sustainable manufacturing.
Aim to establish a dependable company and factory.
This production stoppage highlights the significance of operational efficiency and quality management in the automotive industry. Challenges encountered in meeting production targets and maintaining quality standards emphasize the need for robust supply chain management, workforce training, and process optimization. The company can learn from past setbacks to inform future decision-making and strategic planning, guiding them toward sustainable growth and profitability. Investing in technology, infrastructure, and talent development will be key priorities in building a reliable and resilient manufacturing operation.
Acknowledging Past Challenges And Moving Forward
https://www.youtube.com/watch?v=so_hVN0QFcI
The Lordstown Endurance vehicle had several problems and issues previously, which the user believes were not entirely their fault. Foxconn's acquisition of their primary factory and low production rates were two factors that contributed to the issues. By starting anew, RIDE can create something better from scratch.
RIDE Learning From Mistakes
Acknowledgment of challenges with Lordstown Endurance.
External factors and production issues contributed.
Opportunities to rebuild from the ground up.
Combination of past setbacks and current resources.
Focus on creating successful EV business.
Reflecting on past challenges with the Lordstown Endurance can offer valuable insights into areas that need improvement and innovation. Although external factors such as supply chain disruptions or market dynamics may have contributed to setbacks, internal decisions and strategies also played a significant role. Therefore, Lordstown Motors must be accountable, transparent, and continuously improve to rebuild trust and credibility among customers, investors, and other stakeholders.
Everything You Need To Know About EV Battery Warranties And Manufacturer Coverage
It's always good to know your EV's battery coverage. Here are some facts about the industry you may be surprised to learn.
Optimism For Future Success
Nu Ride Inc. recently announced that they are now debt-free and have a significant amount of money in their bank account, giving them a promising start. With a strong manufacturing base and an electric car to build upon, they have the potential to create a successful EV business. The company was praised by Trump in the past and they aim to continue their success.
Can Nu Ride Inc Create Success
Nu Ride Inc. in advantageous position with no debt and cash reserves.
Potential for exciting opportunities in the EV market.
Building upon existing foundation for success.
Previous endorsement by Trump reflects past potential.
Hopes for fulfilling previous success and overcoming challenges.
Despite past setbacks, Nu Ride Inc. has found newfound financial stability and strategic positioning, giving them reason for optimism. Their solid financial foundation and clear vision for the future put them in an ideal position to take advantage of emerging opportunities within the EV market. By utilizing their expertise, resources, and partnerships, they can drive innovation, expand their market presence, and deliver value to both shareholders and customers. Although challenges and uncertainties will remain, the company's resilience and determination to succeed bode well for their prospects within the dynamic and evolving automotive industry.
https://www.msn.com/en-us/money/companies/10-things-that-will-change-as-lordstown-motors-emerges-from-bankruptcy/ar-BB1kZuoA
Presentations,More information is coming soon. Upcoming Events, More events are coming soon.
https://www.nurideinc.com/
*****🅰️🅰️🅰️ Things are looking dismal for NRDE ( Pu ride ) with current law suit
Investors / bag holders are in an extreme panic
ENOUGH SAID
***** 🅰️🅰️🅰️ The outcome of current lawsuit will turn out very bad for NRDE ( Pu ride ) -- stock is toast
ENOUGH SAID
$NRDE Looking really good for LMC/NU Ride Inc.
Aug 12, 2024 - Notice of Appeal (Filed by Foxconn (Far East) Limited, Foxconn EV System LLC, Foxconn EV Technology, Inc., Foxconn Ventures Pte. Ltd., Hon Hai Precision Industry Co., Ltd.)
ORDERED that the Motion to Dismiss is DENIED to the extent
it seeks to stay this adversary proceeding pending resolution of
the arbitration of the CMA claims; and it is further
ORDERED that the Motion to Dismiss the other Counts in the
Complaint is DENIED in all respects.
BY THE COURT:
Mary F. Walrath
https://veritaglobal.net/lordstown/document/2310831240812000000000001
Bogeyman Hedge Fund pimp, in an extreme panic. LoL SMH
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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