Lordstown Motors

Will natural gas payback beat EV adoption?

The confluence of a new, bigger engine, net-zero carbon emissions from renewable natural gas (RNG) and pressure from shippers for their carriers to operate sustainably add up to a bright picture for natural gas adoption.

But a new study from the North American Council for Freight Efficiency (NACFE) points to a couple of cautions. First is methane leakage from the source of the RNG. Methane escaping into the atmosphere is a huge contributor to planet-warming greenhouse gas.

Second, and most...

https://www.freightwaves.com/news/will-natural-gas-payback-beat-ev-adoption

SEC smackdown and SuperTruck news overwhelm convention dispatches  

The annual Work Truck Week and American Trucking Associations Maintenance & Technology Council pile on stakeholder-specific dispatches each March. But this week bigger stories originated outside the convention halls in Indianapolis and New Orleans.

The Securities and Exchange Commission in Washington is as good a starting point as any.

Lordstown Motors gets an SEC comeuppance

Nearly three years after Hindenberg Research set its sights on Lordstown Motors Corp., accusing the former special purpose...

https://www.freightwaves.com/news/sec-smackdown-and-supertruck-news-overwhelm-convention-dispatches

Ree Automotive: Business life during wartime

Startup Ree Automotive builds its drive-by-wire electric powertrains in the United Kingdom. Its future customer base is mostly in the U.S. But its headquarters is in Tel Aviv, where the Hamas-Israel war takes an emotional toll on employees and their families called to fight.

Israel-based businesses count on some portion of their workforces serving in defense of the country surrounded by enemies sworn to destroy it.

When war comes calling, as it did during the Oct. 7 surprise bombing of Israel by...

https://www.freightwaves.com/news/ree-automotive-business-life-during-wartime

Whatever became of those splashy electrification startups?

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As third-quarter earnings roll in, it is a good time to check the state of electrification startups....

https://www.freightwaves.com/news/whatever-became-of-those-splashy-electrification-startups

Lordstown Motors founder buys company assets out of bankruptcy

The soap opera that is Lordstown Motors is taking yet another unusual turn. The company founder and former CEO is paying $10 million to buy the electric pickup maker’s assets out of bankruptcy.

Lordstown’s “selling entities” said in a Securities and Exchange Commission filing Friday that Steve Burns made the only qualified bid for the assets. Burns founded the company in 2019 and brought it public through a merger with a special purpose acquisition company in 2020.

Burns and former Chief...

https://www.freightwaves.com/news/lordstown-motors-founder-buys-company-assets-out-of-bankruptcy

Who wants a piece or two of Proterra?

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Those surprised by Proterra Inc.’s Chapter 11 bankruptcy filing earlier this month probably should...

https://www.freightwaves.com/news/who-wants-a-piece-or-two-of-proterra

High-flying TruckWings looks at what’s next

TruckWings, the aerodynamic tractor-trailer gap-closing hardware, has surpassed 500 million miles of real-world use. TruckLabs founder Daniel Burrows figures someone will buy his 8-year-old company — someday.

The aerodynamic flight of TruckWings

Trucking technology claims tied to the number of miles driven is a common proof point of effectiveness. When that number is 500 million miles, it’s hard to miss. TruckLabs, the inventor of TruckWings gap-closing hardware for tractor-trailers, has...

https://www.freightwaves.com/news/high-flying-truckwings-looks-at-whats-next

Time running out for Lordstown Motors to complete Foxconn deal

Lordstown Motors President Ed Hightower with the Endurance pickup truck

Cash-starved Lordstown Motors missed its deadline for closing the sale of its plant to Taiwan’s Foxconn EV Technology Inc., a deal critical to the startup’s execution of electric light-duty trucks focused on commercial fleets. 

The two agreed to an asset purchase agreement (APA) in November 2021. Under the deal, Foxconn would purchase the 6.2 million-square-foot Lordstown complex from LMC for $230 million.

The deal was supposed to close Friday. But is being held up by details of a contract...

https://www.freightwaves.com/news/time-running-out-for-lordstown-motors-to-complete-foxconn-deal

Truck Tech: Taken for a ride edition

This week, Paccar whittles down its red tag inventory. Two Nikola hydrogen-powered fuel cell trucks take a test ride, but to where? Tesla shows multiple Semis but is mum on production.  Mack Trucks gets predictive with its automated manual transmission. And the best of the rest.

Red tag sale

Paccar Inc., the first automaker to build and park trucks during the semiconductor shortage, made some nice progress in whittling down its so-called “red tag” inventory in Q4. About 7,000 of 10,000 trucks...

https://www.freightwaves.com/news/truck-tech-taken-for-a-ride-edition

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