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It could also meen they are adding additional shares to their existing.
I agree. It would be nice to get some of these covers out there for people to see. Only problem with that is that he doesn't have any. If you read what Rossi said about the capital raise before he did it. It was for R&D for TerraVis. Just don't think it's as close as everyone Hope's.
Sold my shares at 60. Will get back in at 30 or below. Rossi usually says or dose something to frustrate share holder, like missing deadlines and over promising. So I would expect it to drop to at least 30 if not lower. But do expect better financials now that the economy is picking up, and finally has some capital to work with. Hopefully we will see an actual TerraVis cover by the end of the yr.
Think your right. Waiting for 20s to get back in. Got out at 60. Am a happy camper right now.
Was 1900. As in 1 thousand 9 hundred. Not 2 million.
The raise is a step in the right direction. A baby step. It will take a whole lot more than 4 million to do everything you say. At least moving, starting to garner interest. It would definitely be a big deal if they actually produce any this yr. Would be nice to see an actual working model.
Think Rossi learned after the last fiasco o to keep his mouth shut. So nothing to talk about. But it dose seem things are slowly moving in the right direction.
Nothing that everyone didn't already know. No surprises. The biggest surprise to me is the losses weren't bigger. A better than expected report to me. Was on the verge of making a profit last yr. Hopefully with a vaccine close, we can get on track again. Should be able to overcome a $1m loss with a good yr. Hopefully by this time next yr the regular tonneaus will be close to profitable, and the TerraVis will be in production. That's my hope anyway.
All well and good as long as worksport can get off their ass and start producing. Will remain skeptical until I see actual production, not promises.
The only news that matters with Atlis or Hercules is when will they start producing trucks.
If he has all the money he needs, why is he doing a 4mil raise, and dilute the stock. His answers are always vague, NEVER any details. Article yesterday said he was still developing technology on the solar panels. Tells me not ready for production yet. I'm not trying to talk it down, just being realistic. Of course I want this company to do well. I'm invested in it. I REALLY hope you're right, but I would put up all my shares if they start producing TerraVis by July. You can believe Rossis bs or look at reality. Been here 3 yrs. Think I have a good read on the situation.
Yep. I'm 60% cash right now. Just waiting for the hammer to fall.
What do you meen as TerraVis rolls out? Has no money to produce it, has no place to produce it. When he dose get the money it will take 6-12 months to get a place up and running. Minimum 2 yrs before they start to produce any. Only way to make any money before then is with a buyout, or to chase it up the next time the MMs decides to jump in on some fake news.
Agree. Alot more gas powered trucks on the road than EV. OEM deal is small potatoes. Just talk to get people excited. Dont need to deal with EV as far as I'm concerned. The only good thing to come from an EV OEM is if they help get the manufacturing started. At most they will be 1% of trucks on the road in the next 5 yrs.
Workhorse secures 200 million in financing. Worksport cant secure 4 million to start production.
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Workhorse Secures $200 Million Financing
Workhorse C-Series all-electric step vans located outside Company offices
Oct 15, 2020 11h ago
Mark Kane
By: Mark Kane
Will expand manufacturing volume and expand its EV lineup.
Workhorse announced a $200 million financing deal with institutional lenders, which should result in $194.5 million in proceeds.
After closing the deal, the company will have over $270 million in cash available and at least several ideas on how to spend it.
First of all, part of the cash will be used to replace previous higher cost financings, and support current working capital and other general corporate purposes.
But the most important for us is the plan to increase and accelerate the production volume of the Workhorse C1000 and smaller Workhorse C650 all-electric delivery vehicles.
Another goal is to expand the lineup by a:
refrigeration truck for grocery applications
purpose-built class 2 delivery van
Workhorse CEO Duane Hughes said:
"With this financing in place, we can more quickly advance our production efforts heading into 2021 by increasing our supply chain component volumes, hiring more manufacturing employees and automating certain sub-assembly processes. We can also accelerate our production timeline for new, high-demand customer products, including a refrigeration truck for grocery applications as well as a purpose-built class 2 delivery van, allowing us to address one of the fastest growing vehicle markets in the U.S. These new vehicles within our portfolio of products, along with the expanding operations of our drone business, will help to further solidify our leadership and reach in the last-mile EV delivery segment."
Time will tell whether Workhorse will manage to really expand its business. The company hoped to deliver 300-400 electric vans by the end of this year and maybe Q3 results will reveal the current status.
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The patent is only for solar panels on tonneau covers for pickup trucks.
My thing is, why is he even messing with unproven companies that IF they make it will produce 10s of thousands of trucks, when there are millions already on the road. Seems to be focusing on the wrong market Imo. With everyone throwing tons of dollars at anything ev related these days, he cant raise 4mm to start producing what everyone seems to agree could be a good product. Something is not making sense.
All this focus on an OEM contract is overblown in my opinion, but that is the corner he has painted himself into. The main focus should be on the millions of existing trucks already on the road. At this rate the patent will expire before any get produced.
I understand how it works. I think it is a good concept. which is why I invested. It's been 5 yrs, I have been here over 2. I would like to see it move past the concept stage to an actual product on actual trucks.
That's right. 5 yrs and millions of trucks on the road and not 1 sold.
I would like to see an actual product. At least have a prototype. Right now investing in an idea. Which I think is a good idea. I think the main focus should be on outfitting existing trucks NOW, not counting on some orders from an ev company that may or may not be around in 5 yrs.
He has a Patton for foldable tonneau covers with or without solar panels for pickup trucks. We are not putting anything on planes, trains and automobiles. He said ford and Lordstown were too big to handle. So he can't even make enough for them. Is the market for solar panels growing,? Absolutely. Is worksport going to make any of those? No. They are not a solar panel manufacturer. They are a tonneau cover manufacturer. And I would love to see them manufacturer ONE that actually works, and we can see it. Not some photoshopped pictures. People are not going to put deposits down on an idea that nobody knows how good it actually works. Where can I see one? Where can I see an actual video of one being installed, integrated and working. Want to see someone actually test it. See how long tools and lights actually work for. See how many extra miles you actually get. Not claims by Rossi, but actual test. Right now he's trying to sell something that doesn't exist, besides on paper. That's a tough sell.
He has a Patton for foldable tonneau covers with or without solar panels for pickup trucks. We are not putting anything on planes, trains and automobiles. He said ford and Lordstown were too big to handle. So he can't even make enough for them. Is the market for solar panels growing,? Absolutely. Is worksport going to make any of those? No. They are not a solar panel manufacturer. They are a tonneau cover manufacturer. And I would love to see them manufacturer ONE that actually works, and we can see it. Not some photoshopped pictures. People are not going to put deposits down on an idea that nobody knows how good it actually works. Where can I see one? Where can I see an actual video of one being installed, integrated and working. Want to see someone actually test it. See how long tools and lights actually work for. See how many extra miles you actually get. Not claims by Rossi, but actual test. Right now he's trying to sell something that doesn't exist, besides on paper. That's a tough sell.
Yes there are candidates out there. It's not like they're lining up and he picks the best one. Hes out there begging for someone to step up. Even if this so called BIG 70mil deal comes through, it is in reality small potatoes, especially if it is spread out over yrs, and only if the truck manufacturer actually survives. That is not that big a deal, but it is a start if it actually happens. I'm thinking they should be making 75-100mil a yr if he can actually get this going. What scares me is Rossi ruling out a manufacturer [lordstown] as being too big when they have not even built a truck yet. Seems he just wants to keep it small. Just hoping for a buyout from someone that can actually produce them. Would love to see a demonstration of this actually working. Here's hoping he can find his Luke Lalouch
I agree 100%. Think the original deal was with Nikola. Now he is scrambling to find another deal. Think he honestly was ready to make the announcement, because Nikola just made a 2bb deal with GM. It all made sense until the shit hit the fan. Believe he is honestly trying, but it is time to get something done. Rossi been here 6 yrs. Hasn't made a profit yet, but barely keeping the company afloat. Been on the otcbb a long time. Most companies have either moved up or gone away by now. He is becoming the Crash Davis of the otcbb.
The new ford will use a gas powered generator to charge the batteries. It is a system similar with portable batteries, but charged by a generator
Been here awhile now. Before hrs. Thought the regular covers were a good idea, but never took off. Thought the TerraVis covers are a good idea, but haven't taken off. Has had the patent for a couple of yrs now. Don't understand why he cant get funding. Seems like everyone is throwing dollars at all the EV stuff now and we cant seem to catch any of it. Even IF the 70mm oem comes through, that's small potatoes, especially if it over 5 yrs. Barley enough to get this thing up and running. The other thing I don't understand is why the patent for the foldable covers and the TerraVis covers is one in the same. Limiting the TerraVis to the foldable tonneau covers for pick up trucks. Missing out on a huge market for work Van's and the other utility vehicles like what workhorse is doing for the pist office. The TerraVis seems like a good concept, but that is all it has been for a couple of yrs now. I dont see any head way towards production. Every interview I have heard with Rossi for the last 2 yrs sounds exactly the same. We're trying to raise money for production. Like if he says it enough, someone will throw some money at it. Getting contracts for future orders from OEMs is nice, but dose not raise the money needed to start production. Hes been begging for money for a couple of years now. No one is giving him any. The only way I can see this working is if he gets enough future orders to make it a viable company to sell to someone that has the capital to actually produce them. Just dont think Rossi can pull it off by himself. Been trying to raise the money now for 2 yrs with zero results. Waiting for the next announcement. If it doesn't come with any upfront money or offer help with production, I'm out. I'm only at a 100k shares, but will double my money at current price. I really hope this next announcement is good, or will be back below .10 again. Think many longs like myself are tired of empty promises.
Not good enough
?
Ford has electric pickup range-extender design that drops into bed, could be option for F150
Fred Lambert - Oct. 3rd 2020 6:58 pm @FredericLambert
Comments
Ford has a design for removable range-extender that can drop into an electric pickup’s bed, which could possibly become an option for the upcoming F150 electric.
Range-extenders, which are basically generators, haven’t become popular with electric vehicles buyers.
It’s basically the same concept as a plug-in hybrid (PHEV) with the main difference being that a PHEV generally has a short battery-electric range and mainly relies on its gas tank for longer distances.
On the other hands, an EV with a range extender generally mainly relies on the battery and the generator only provides some additional range.
But both can recharge their battery independently from burning gas – unlike an hybrid.
The best example is the BMW i3 which was offered with a range extender option.
Now Ford has applied for a patent on an interesting solution for a range-extender that can be dropped into an electric pickup’s bed.
In the patent application, Ford says that the generator is shaped like a toolbox:
“An electrified vehicle according to an exemplary aspect of the present disclosure includes, among other things, a drive wheel, a battery pack, a cargo space, and a generator removably positioned within the cargo space and adapted to selectively output power for either charging the battery pack or propelling the drive wheel. The generator is shaped like a toolbox.”
Ford mentions that the system could have a capacity of 5, 10, or even 15 gallons depending on the configuration.
Here are some of the drawings from the patent application on the new range extender design:
While companies often patent technologies that don’t always make it to market, this patent is particularly interesting in the context of Ford working on its very first electric pickup truck the F150 Electric.
Ford is expected to bring the Ford F150 Electric pickup to market in 2022.
Here’s Ford’s new patent application in full:
View this document on Scribd
Electrek’s Take
I’m generally not a fan of range extenders, but I think this is an interesting solution.
My biggest complaint about them is efficiency. Carrying a generator and gas tank affects the efficiency of your electric powertrain and vice versa.
However, if it’s removable, it’s another thing.
You could use your electric pickup truck as a pure BEV most of the time and and when you need longer range or carry or tow bigger loads, you could add the range extender.
I think that’s an interesting solution and could help ease more pickup owners to make the switch to electric.
Of course, it depends on how easy it is to mount and dismount that generator, but I think it’s something worth exploring at least.
What do you think? Let us know in the comment section below.
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I could see a build up a couple of days before the announcement, up to 25 or 30 if he announces a date for the announcement. If its Lordstown or ford I can see it running to .70. All else, Meh. Unless there is upfront money. It will go back down to 15. Imo
I hope so, because that is what is going to have to bridge the gap. If he can show a profit with the regular covers, that would help with financing for the TerraVis covers
Agree 100% Think the OEM contract will be small potatoes compared to after market covers to fit the existing petroleum powered trucks. 1 in 10 is still millions. Would definitely hope this brings more awareness to their regular covers as well. They have been making those for yrs without a profit yet.
Still smells like the deal was with Nikola to me. Timing was perfect with them getting 2 billion from GM. GM will watch over their investment, so even if it is, it may not be a bad thing. They may be switching the agreement over to GM to save face. Hercules and Rivian may still be in play also. I think one of them may have been the 3rd, but will be the original
now. Anyway with all these new companies it will be yrs before we see any substantial revenue, let alone profits. Unless someone decides to give a substantial amount upfront for production, the only other way to raise enough capital is through dilution or add debt. But no one will loan you anything when you dont have enough revenue to pay it back. It's a good idea, with lots of potential, but that potential wont be realized for a couple more yrs. The only way we make any money in the short term is with a buyout, or piggyback on the short runs on news, and hope the MMs run it up again.
Thanks. That's why I couldn't find it. No solar in the name of the patent. Looks like he got the foldable panels and solar panels all under 1 patent. Had to go scroll all the way down to get to the solar part.
Been long here. Looks like it will be a couple more yrs before they start making any money. Hoping for a buy out.
Where are the TerraVis patents. I can't find them anywhere. Do you have the numbers or know where to find them.
Also believe it is too much of a coincidence that Rossi planned on naming the OEM company, then all this stuff with Nikola came out and he had to put it off.
If Lordstown and Ford are too big for us to handle, what do we, or they do if they want the cover? Buyout?
I have looked for the patent. Cant find it. It seems like a few others here have looked also, and couldn't find it. Has anyone seen it? If so I would like to see it too. May be a good question to ask Rossi. What is the patent number? If there is one.
I hope he is dealing with Lordstown. But it sure smells like Nikola and he had to change gears real quick. Maybe get GM to supply the batteries.
Sound like a little kid in Disneyland for the first time. Lol. Anyone who's been here long enough know MMs will take this up and down on news. Take a step up each time. Having orders is great, but right now they have no money to start producing them. Maybe they will get some upfront money, maybe Lordstown helps out with production. With a patented product and orders in their pocket with no way to fulfill them sounds like a perfect buyout opportunity. Otherwise they will have to raise some capital. Either through adding debt or through dilution. Which would hold the pps down. Hopefully they get some upfront money from these orders. And a move up to the Nasdaq would help alot. If not this will continue to be a slow rise. Once we get official ties to an OEM company/companies it will be more attractive to investors and hopefully buyers. That is what I'm hoping for. Think that gives us the best opportunity to make good/quick money.
I think it's either Lordstown/workhorse. or Nikols/GM. GM just bought a 2billion dollar stake in Nikola and will be supplying batteries and fuel cells. So they now have money to spend. Since WKSP is not supplying the batteries for their covers, it would make sense. Lordstown/workhorse has 1.1 billion in preorders and workhorse is hiring 200 more people and just partnered with Hitachi to set up manufacturing and dealerships. Those are the 2 where all the action and money is right now.