NU Ride Inc (NRDE)

[Saving Grace]

Game changer; NU Ride Inc. Lawsuit against Foxconn could be worth Billions

LMC was created to provide the capacity to build the USPS's NGDV. EVERYONE thought that the USPS would go EV, WKHS would get the contract and LMC would build the trucks. The plant was specifically designed to build the UPSP trucks.

The USPS trucks would use the same skateboard as the Endurance. Had they gotten the USPS contract the USPS would have paid for all the hard tooling and provided the volume necessary to massively lower the Endurance BOM. The Endurance would be able to be built and sold at a profit.

When the USPS decided to not go EV, EVERYTHING changed. There were two camps.

Camp 1 - Burns wanted to start production of the Endurance, get limited numbers into the hands of the customers. Once they saw the value, they would order lots more. These PO's could be used to scale and reduce costs. Burns still believes that had they gone this route they could have been successful.

Camp 2 - The Board, believed Burns plan was way too expensive and was unlikely to not succeed. They decided they needed to partner with someone who could value from their plant/employees to leverage what was created for the Endurance. Foxconn seemed perfect.

They went with the second route and Foxconn completely screwed them over. If you read the Complaint, it's clear that Foxconn clearly planned on running LMC out of business and taking over everything. They would then be a US based Magna Steyr. -Reddit quote
-Reddit quote

Endurance platform, intellectual property, production line equipment, hub motor agreements, hub motor production line and anything and everything else needed to make the truck was purchased out of Bankruptcy in auction by Steve Burns, and is being rebranded as LandX.


Because of The Pending Lawsuit against Foxconn, Nobody has seen the specific details of the agreement and or any signatures confirming the sale in writing or made publicly

LandX has yet to register a stock symbol and some believe a merger acquisition of NU Ride Inc. is in their sights and to continue on.