 446 p.m. This was dropped right after I dropped my previous video on this same talk it see if it's clearance this is a big deal for Lordstown Motors okay there under their asset purchase agreement with Foxconn blah blah blah the United States cleared the deal so that means there is no legal impediment to this to Foxconn purchasing this plant Honhai again we have the previous blurb about a Honhai making a big investment as well anyway the point is Lordstown said it expects more updates regarding the agreement as part of its earnings result on May 9th so as I said High Tower on the 24th of this month the last statement from him was there is no agreement there is no prospect of an agreement there are no details on any agreement there is no agreement according to the asset purchase of the AIP the agreement to have the agreement there were two basic tenants that had to be met according to the outline of that agreement one tenant was Cephas approval which we have and that was a big hurdle I was slightly concerned I was concerned about it as per the previous video video I'm sorry now as far as the next hurdle according to the AIP and this the details of this are going to be hammered into the asset purchase agreement which is the APA which more updates May 9th okay so there was basically a right-hand and left-hand to this AIP agreement in principle Cephas was a key role dotting the you know there's some regular closing requirements which are legal mumbo jumbo the other half of this was the agreement to have Foxconn manufacture the Lordstown Endurance and now there are no details on this as I said the high top van is ready to go the line can make both vehicles at the same time they have the frame production big there to make the vehicles that so on and so forth this is obviously what they are working on right now and they need to come to an agreement on the production of the Lordstown Endurance and this is going to involve in my opinion we have no details on this international distribution rights as well as the domestic distribution rights the branding I suspect it's going to be a Foxconn brand internationally domestically it's going to be the endurance brand I believe there are going to be two models that are being discussed one being the pickup one being the high top delivery van Schmidt the former president of Lordstown did a great job setting up this line he was ready to do production and he said that that line could meet first year production no problem car a vehicle every seven minutes to start and after the entire production line was rolling a vehicle every four minutes of course they have to get the hub motor line up and they're planning for 500 vehicle distribution this year both the CEO of Foxconn and DJ Dan at Lordstown have basically put it through a line on the ground drove a line in the sand that this will go into production Q3 this year now what is the hold up the hold up is hammering out the details on this agreement and the way this works in my opinion you guys can read the agreement yourself they are on the Lordstown site with the SEC filings and so forth but the basic tenant here is Lordstown is going to use their engineering and design staff to design additional vehicles for Foxconn the fees from those design efforts are going to go into the contract manufacturing fees and bill of material fees for the endurance and initially I imagine the endurance is going to be distributed in the United States but the other half of this agreement is figuring out the international distribution in my opinion of the endurance what the branding of that will be and in this case Foxconn I believe according to the blurbs is going to have the right to distribute this internationally now part of that is going to be them paying some type of premium per unit or whatever they decide on doing that is sold to Lordstown motors so there's a lot of complexity here there is a lot to negotiate there's international factors to negotiate this is undoubtedly a very complex negotiation I think I have gone through in the rest of this video I think I've made a case that man there are this this has to get done I mean there are just there is such a demand for these exact vehicles Steve Burns was right on the money on his first two efforts there's there's unmet demand for both of these vehicles there's ineptness and complexity to the other designs that are being offered for these two vehicles the manufacturing ability and the drivetrain and the engineering of the Lordstown vehicles are superior to the offerings from Ford and Rivian and bright drop at GM in my opinion and anyway this is the Gordian knot that they're trying to untie and I am sure that there are intense negotiations going on to figure this out and this is a new way of making vehicles this is a new way of distributing vehicles these are new vehicles this is a new propulsion unit this is a new production line all these concepts are new this is the new new this is going to be the new way to make vehicles we can see Lucid is failing miserably about doing their own manufacturing and they do not have the connections for the supply lines Rivian absolutely not up to snuff losing money stock price down do not have the supply chain and logistics to make their vehicles bright drop which is one GM there's there's a number of GM efforts for the delivery vans I don't know where they are but you know GM also with the Silverado I don't think we can expect any kind of mass production from General Motors till next year perhaps late next year and I do not believe they're Silverado and I will go through the competitors to the endurance here and later in this video as well I don't think they're up to snuff against the endurance and I believe that the Lordstown high-top van has been thought out to be manufacturable and it's got a lower part count I mean it's just I believe a superior product and I think both these the timing these products are meeting the the market at a time where the other manufacturers cannot produce enough to meet demand and I'm going to go through this in the rest of this video as well so they're going to be stepping in Lordstown and Foxconn are going to be stepping into a market with optimal products at a time when the competitors cannot meet demand and I think the key here is going to be the Foxconn supply chain I've made prior videos about rumors about battery manufacturers being could possibly be involved with Lordstown I think there is something there the amounts of improvements that have gone into the Lordstown line during this period last six months or three months have been massive according to the shipping container data I believe they're gearing up their hub motor manufacturing are they playing possum do they already have this negotiated and are they just keeping it under wraps until they are absolutely ready to start production is it that they do not want to make an announcement until they can absolutely roll vehicles off the line is this something that they want to do to couch out to the SEC and the DOJ I don't know there was a visit by Foxconn officials to the plant area I in my opinion now there have been other videos from other video creators on YouTube about this plant reverting to Foxconn in the event that this agreement cannot be rate of met you know there is so much money to be made there is so much money on the table right now in my opinion not a financial advisor not an engineer not a lawyer I cannot see how they cannot do this agreement and I do not you know I do believe that both parties are negotiating in good faith are they sandbagging us do they have an agreement I don't think so are they waiting till they can actually go into production I mean this is one tangent that you could look at one vector you could take on this that they are in fact holding back on everything till they can absolutely start production so that they have absolutely no problems with the SEC and the DOJ that to me would be something that Foxconn might be insisting on on the other hand I'm sure DJ Dan is in there Dan Yavaji the CEO of Lordstown and he is negotiating hard I do believe the recent announcements by the other OEMs have given Lordstown even more leverage in this agreement where they might have been at the disadvantage I think because the demand for these vehicles is so strong and absolutely not being met by any of the other manufacturers I I think the impetus is going to be for both parties to get together and do this deal I cannot in my mind now I can be wrong on this and again this is a high-risk investment ride stock is a high-risk investment however I just at this point in time with what I've known and after doing this research and seeing what the overall market looks like I just I don't know I can't fathom a default on this agreement I think another tell on this is the fact that they have postponed it they did not say it was canceled they did not say it could be the of course it's a black box they're not talking about anything but they have moved the announcement ahead so the only issue really we have now is this contract manufacturing and distribution agreement of the Lordstown design products by Foxconn now there had been a local report I just want to put this in there there had been a local report and one of the blurbs in that report from a local reporter from the Akronberg Journal Akron public radio and you can read that in it's in my two videos ago on this topic one of the blurbs was that Foxconn doesn't want to pay for the manufacturing of the Lordstown endurance I don't you know what does that mean does that mean that they do not want to bring Lordstown in for into the MIH program to design their vehicles I don't know but the point is with all the all the tell tell tales are that you know MIH is Lordstown's already involved with MIH I mean high towers presentation although there was no absolutes mentioned that the implication was that you know it was involved anyway I'm getting a bit long winded here I do believe that at this point and even since this negotiation was announced I mean the market the macro market has changed so much with the Ukraine issues with the oil market with the demand for electric vehicles with the demand for fleet vehicles with the demand for electric pickup trucks with the competitors you know basically falling apart there is a giant pile of money on the table waiting to get scooped up and let me put it this way if these two parties don't get together man it's gonna be a mistake but who knows maybe DJ Danny's got another card to play in his back pocket but I have a skinny bull case on right I think this is the new new and I think this is just the start of this collaboration I think it's gonna be very powerful with the resources of Foxconn and the talent of Lordstown Motors and they have proved and they and I you know these endurance trucks have not been out but however the manufacturability the engineering of these trucks you can understand Steve Burns was working on an electric pickup truck for 12 years and probably more experienced than any of these other players and he put all that knowledge into this product anyway enough let's move on to the next section of the video alright let's just start with the Silverado RST available I got this is in the wrong place sorry this is a grocery getter there's no cab off-function here this is independent suspension built on a SUV skateboard not a truck available fall 2023 no competition this is the cyber truck cyber truck will finally go on sale in 2023 must confirm lecture is now set to go on sale sometime in 2023 must didn't specify when so I think that's a big maybe so no cyber truck no Silverado till next year Rivian doubles pace of production but 2022 L but still held back by supply chain ceiling this is March 10 they've cut their production in half chip shortages battery shortages I think they're having trouble making these vehicles because they're too complex the suspension is too complex the drivetrain is too complex they just can't assemble them fast enough they're basically hand building them I think they've been doing this from the beginning with the Rivian again Rivian this is April 6 on pace to meet 2500 vehicle production target that's bogus it's again Rivian said supply chain essentially limit the plan production by half from 50 to 25,000 trucks Rivian's normal plans of production capacity of 150,000 vehicles per year to complex to complex and we'll eventually expand that to 200,000 I think of course they're ramping up but again I believe this truck is too complex okay Ford post loss 3.1 billion dollar loss on Rivian they're getting rid of a 580 year engineers a lot of them work in their EV group because the first TV they put out isn't very good and they have a completely new design for 2025 and this tells me that they are not gonna they're gonna make this truck and this is gonna be the first last and only version of this truck the lightning it's gonna be the lightning too because this baby this this bird ain't flying okay Ford stops taking orders for the most affordable F-150 lightning okay the F-150 Lightning Pro and XLT now the Lightning Pro is their fleet truck and the XLT is the consumer version of this fleet truck these are direct competitors with the endurance and I believe this is the endurance and this is the endurance consumer model the XLT stop stop taking orders such high demand sold out okay cannot meet demand okay the buyers who want to do it must upgrade to the more expensive model okay so there are no more Ford fleet trucks being ordered being sold this year and the XLT which is the consumer version so again they can't meet demand and they've stopped taking orders Ford shut down the F-150 lightning reservation system so before you could actually order a less expensive model you can't order anything now okay Ford reservation closure and order wave is Ford still taking F-150 lightning and this is all versions reservations no they are not they cannot meet demand again this is a cobble together truck it is complex and hard to manufacture and in any case they can't meet demand and we're back to the Silverado and I'll tell you here's a Silverado again no bed-off feature this is on a car skateboard this is not a truck there is no straight axle here the point I'm trying to make with all of this is the Lordstown Endurance is the only game in town not only is it the only one that can ramp up production and meet production you know our ex-president of Lordstown Schmidt fantastic job gearing up that plant for production they have been re-chuling obviously we don't know what they're doing but they've made it even better is are the endurance will they be able to produce yes they I believe they will be able to produce the endurance are they gonna suffer the same battery and chip shortage of these other manufacturers it's Foxconn I don't think so you know right now the silver the Lordstown Endurance anybody that wants a fleet a real fleet pickup truck they only have one choice endurance consumers that want a 55k affordable real pickup truck that can do work not a grocery getter they only have one choice the endurance I think this gives Lordstown Motors great leverage in their negotiations with Foxconn and you can see how this Foxconn joint venture is gonna work out fantastically they're gonna be able in my opinion they're gonna be able to ramp up well they've said 500 vehicles we gotta understand they are ramping up however they are in the best position I believe of any of these manufacturers to take market share which is exactly the plan of Foxconn and you know there's other vehicles involved as well that Lordstown has on the list which is what do they have they have the delivery van okay we're gonna try to go through that in the next section okay now we're gonna talk about the main competition one of the main competitors to the endurance high top van the Lordstown high top van this is the Rivian van which I saw pictures of it was wavy gravy over here I mean the production model I saw looked horrible anyway everything we know about the Rivian Amazon EDV electric van and again this looked horrible don't really like the van look anyway doesn't matter this is April 1 2022 going down here custom design blah blah blah blah blah this is very interesting copying the endurance the EDV uses a steel body on a steel ladder frame skateboard that is the endurance model now they've got a weight of 9,000 pounds here I believe the endurance pickup truck has that beat by about 2,000 pounds we will see with the big van body now many people were talking about the range reduction of the endurance from 250 to 200 here's your answer this delivery van has a range of 201 miles that is what Amazon specified so we can we can gather from this that Lordstown is planning on building the van and the truck at the same time on the same frame with the same range and evidently someone through a number of studies has determined that this is the optimal amount of travel that a fleet vehicle does during a normal day thought this was all very interesting again a total copy of the endurance architecture and again this matches the range of the endurance again are we looking we were speculating about this in the endurance we don't know if that's true again they want to increase production 200,000 vehicles for Amazon with variance of this van they can't get these out of the door okay they're making 200 units per week of all the trucks and I don't even think I don't even think they're making that many that Rivian dads or whatever that channel is these guys are waiting months to get their trucks there's always been a lot of flim flam with the delivery numbers from Rivian and I might add you know Ford CEO he just made another caveat while we don't know how many of the orders are gonna are gonna transfer to purchases you know this is what they crucified Steve Burns for and they're short and distort campaign against Lordstown anyway I just thought these were very interesting as you can see the Lordstown Motors van is going to be a direct competitor and the dyes are already made for the body panels on the on the Lordstown Motors high top van it's gonna have the same rate I would I would believe it's gonna have a say I think it's gonna beat it on weight anyway Lordstown are started initially with this ladder frame concept and obviously Rivian has adopted it because it's the optimum design but you know what they can't match the endurance because it's been designed from scratch with this in mind the endurance also has the endurance platform that plant at Lordstown has a frame shop within it to make these ladder frames with again with Foxconn supplying the batteries and electronics you know Ken Lordstown crank these out yes they can are they gonna do a better job than Rivian I think so Rivian is a mess as is the Ford unit they're just you know they just in Rivian it's the complexity of the vehicle at Ford they're doing a horrible job with their transition they can't even make can you imagine the money they're leaving on the table and the money that Rivian is leaving on the table and this is all the money that Lordstown Motors and Foxconn's are gonna scoop up off the table when they go in the mass production of these vehicles okay this is GM's bright drop there's a number of different GM products it's very confused and confusing as far as their delivery this is their bright drop they and the last live view I saw this at a trade show was a very rough prototype unfinished vehicle anyway this is what it looks like just go through this real quick all electric e-transit vans will always be playing the same space as Fords and I see transit vans as well as Rivian Amazon well we know Rivian Amazon isn't gonna be any in any van picture because they can't do anything Ford can't even make a pickup truck so all we got left is this GM product 250 mile range is impressive however combo using GM's ultimate battery and drivetrain technology so this is gonna be built on a car platform it in my opinion I think it's curious they also have a pallet mover that goes with this van that they're designing as an accessory it's got a hub motor interesting enough light commercial vehicle which is what the endurance high-top van is gonna be now available a gross weight less than 10,000 pounds they don't have any figure on the gross weight and maybe you can help me I can find no capacity cargo capacity for this vehicle so let's move on here December 21 delivered the first five of 500 electric vehicles to FedEx I can't find a lot of delivery information on this van I don't think it's in very big production in any case it's on a car platform and or would a car like platform and we don't have any cargo capacity listed on it 250 mile range which seems to be more than it's needed according to the other manufacturers this is a video from bright drop I'm gonna play here with the sound down anyway this is the GM competition to the front door you know I don't know I mean again not without a flight without it I don't know how they're gonna work this with the suspension and the weight and the gross weight of the vehicle you know they're vehicle classes they have a limited amount of weight they can put on the road during their class according to the class of the vehicle and so forth but the point is I can find no cargo capacity for this oh wait a minute did you see that I saw a leaf spring from the ground up so again and battery platform purpose built from the ground up this looks like the workhorse van which was destroyed by a short and organized an efficient way this is the pilot with the hub motors thing on it the bright drop EP1 a fully electric delivery container designed for ease and security to help reduce shipping risk increase shipping efficiency and increase shipping content is certainly a nice feature which there it is you can see there real briefly where was that I think it's right here anyway I see some leaf springs there right drop EVs who knows is this a prototype vehicle see the leaf spring see it right there see the leaf springs crafted atop just that half a straight rear axle is this front-wheel drive I do not know what this architecture is and design but they've gone to the straight rear axle to for a commercial vehicle we're gonna have to see how this works anyway there I can't find any sales and production numbers on it this is a nice feature as well however I think people are gonna be looking for a fully electric delivery cheap design for ease reliable delivery van as well I don't know how well this is gonna work in every situation this gadget here anyway this is the GM offering goods again not a lot of information on this sales wise or what they're doing anyway just an idea of what the Lord's time motors is facing I think their high-top van is gonna be very competitive because of the hub motors and because of the manufacturability and other things but none of these vans the Rivian or the bright drop are talking about capacity this is MXUX I'm just closing out this video it is a bit lengthy but I think it covers some important points on what this joint venture is about there's a lot of news here closing in in these last 2448 hours on the joint venture agreement I have another video planned on the investor relations release on the next quarters earnings report and the joint venture information in that which I'm going to drop shortly after this video goes out I hope you guys like the video I think this video makes a case for this joint venture and I do think this is a showstopper everyone's still negotiating no one's walked away from the table I am hopeful that the joint venture agreement is going to be signed and the joint production design aspect of that is also going to go through thanks for watching see my next video