 Um, as DJ Danny CEO Dan says, you know, launching the endurance is nothing to this guy launching two additional programs is nothing to, uh, Edward high tower and he does a great job on the stump, uh, presenting the company as well. Uh, I think people are overlooking, you know, he's a power player anyway. These decks are pretty familiar. The idea here is this joint venture. Everyone's talking about the joint venture. Everyone's waiting for the joint venture. What the heck is the joint venture? I wanted to know myself. So I went over, I wanted to know how this was going to work. So I went over this myself and let me just share this with you, uh, what's going on. Now this again, these slides here are reminiscent of the quarterly call. And we're going to get into the joint venture here. Uh, Lord's Time Motors partnership with Foxconn would. So they're, they're, this is an SEC filing, not saying will would provided it is signed and passes muster with CFAS would support the EV ambitions of both companies, creating synergies and vehicle development, sourcing and manufacturing, um, they go over some basic stuff here, uh, North American EV con, you know, we know about the plant. We know about the NIH proud pro vehicle development and we know about, uh, global sourcing. So these are the things that, uh, are coming together in this joint venture. Let's just move on to the next slide here. Now I already said something about high tower, uh, Danny Avaji, don't let the smile in the Woody Allen glasses for you. This guy is, I'm sure playing a major role behind this strategy. And he is a heavyweight New York money guy. He's an apex predator. He's a big, big time public corporation operator. You know, there's probably what a hundred people in the world that have his skill set. Okay. High tower. I've already mentioned Adam Crow. I have not looked at in detail, but I'm sure if Danny Avaji picked him as CEO, that he has confidence in him. And certainly Danny Avaji is qualified to approve a CFO appointment. Parsons and Leonard are both Lordstown Motors OGs and they know where all the bodies are buried. They know the history of the company. They know the history of this transaction. So they're also very important, uh, to this plan. I just wanted to make a point here about Danny Avaji. Um, he is, uh, a heavyweight as his high tower. So we have some major players. Again, high tower, you know, I, you know, do a hundred people in the, in the world have his experience, probably maybe a hundred. Okay. Um, both of these guys are, uh, top of their game, top of their experience, uh, top of their, uh, industry skill sets. Now we've got these principles here. We've seen all this. This is boring, accelerate EV adoption. This is from the report, the product. We are familiar with the endurance. Just one word about the endurance. We all know about the hub motors and the hub motors have a lot to do with, uh, customer satisfaction and performance and everything. I think from the point of Foxconn and from the point of investors, it's the manufacturability of the hub motors, uh, lowering the bill of materials items, lowering the cost of the bill of materials, making the product easier to manufacture, making the product lower cost to manufacture. This is the real advantage of the hub motors. Now the hub motors are slightly more expensive or more expensive. I think slightly more expensive than the inline motors that are offered now in other EVs, but they're also not at mass production. And also you got to take over the total cost of using a hub motor versus an inline motor or an internal motor. Takes one guy five minutes to put this on on the assembly line. There's one station. There's nothing there. They do connections. They bolted on with an inline motor you have. And by the way, there's two parts. That's it. The stator and the rotor with an inline motor, you have CV joints, you have drivetrains, you have cooling, you have, uh, reduction gearing, you have CV joints. So all of this, uh, makes this a big deal to investors or it should, uh, as an investor, you should look at this as being the simplest way, the cheapest, the most efficient way to manufacture an electric vehicle. Let's say electric vehicle drivetrain. Uh, perhaps Tesla has with its massive castings, uh, for the body, but definitely for the drivetrain, as I said, if these were available when Tesla was being founded, he would have used that. Let's just move on made that point. Now, the endurance is a fleet first vehicle. It's a bespoke tool for work. You know, the, uh, Ford F one 50 lightning in my opinion is not a work truck. And, uh, there are a lot of fragile components, including the suspension and the outlets they have provided in the different locations are fragile. Um, you know, this, that is a grocery getter. This is a tool for work. This is a rugged truck. This is a real truck. Okay. So let's just not overlook this. And these are the other points which have been made many times before. Um, we're going to get into software, uh, a little later, but, uh, again, the endurance is a work truck. I think that fleet users are going to recognize this. And I think consumers that want a real truck are going to recognize this too. Um, this is the hub motor. We all know about the hub motor, how it works. Again, this is the manufacturing process. You got bearing stator rotor. That's it. You got three parts here. Okay. In on each wheel. Okay. As opposed to motor, axle, CV joint, drive gearing, oil pump, blah, blah, blah. Okay. This is what we're looking at here. This is the manufacturability that Foxconn likes and that we as investors like because it lowers the cost of manufacturing. It lowers the bill of materials list count. It lowers the bill of materials cost. It lowers manufacturing costs. It simplifies the production line. So many advantages. Okay. Again, we've all gone through the specifics of the endurance. I'm not going to belabor that here. Now, this is the thing. Endurance will offer advanced police fleet management, software, solutions, cybersecurity and connected vehicle features. You got to understand Steve Burns is a software guy, was a software guy. Steve Burns invented Surrey, you know, your Apple phone Surrey. He invented Surrey. People are going to argue with me about that. Look it up, but he's a software guy. And he started from the very beginning working on the software. When Rivian announced its tank turn, Steve Burns said, yeah, we could do a tank turn. It's a clown show. We're more worried about getting a drive system in place that's going to work if one of the motors fails at high speed. So he has been into the fleet management software for a long time. This is a couple of things here. We're going to have expansive vehicle operation data catalog. So they're going to be collecting data. This is the app. This is the dashboard for the fleet metrics is going to track all of, you know, where the trucks go, how fast they go and so forth. This also a la Tesla is going to be a self-driving data fee. This is going to be for the AI fine tuning, the self-driving of Foxconn of the MIH program. Okay. So just to give you an idea about that. And again, LMC cloud is the Foxconn, Wisconsin under this joint venture would be the Foxconn, Wisconsin location. But this is, this is something that's going to happen with this joint venture. Now, I just wanted to say these are some of the things that have been listed. Now, these are plan connected vehicle features. Okay. And I have done two videos on what I believe the consumer version of this truck is going to be. And this would be the endurance and Foxconn consumer version. Now this, these are listed as fleet vehicles right now. But let me just tell you some of these software things that I believe are going to be announced in the consumer model, which is going to fall shortly after the fleet model, in my opinion of the endurance and the Foxconn international model fleet dashboard with live vehicle tracking. We already discussed that, you know, inside the vehicle, we're going to have charge locations, charge locations, availability. And these are consumer features that are offered here remote preconditioning over the air software, remote door lock and unlock. Geofencing alerts, ability to reserve a charge location, integrated payment for charging, a trip planner, a charge scheduling app. Okay. You can see these are, in my opinion, consumer oriented features, which the president of Lordstown is putting in place. Keyless entry, video streaming. Okay. And all the other things that you notice here that are kind of deregure now, one comment had mentioned limp mode. Limp mode is what you could use because this truck can drive on one motor, no problem. And that would be limp mode. So if there's a massive breakdown, that's what limp mode is all about. I just wanted to make the point here that they are making, their plans are to make this vehicle, I believe self-driving and a data collection point for self-driving programs. And I do believe the plan here is for a consumer release and also a really crackerjack fleet vehicle, which the governor is going to be taking off. And we can add these features to my previous two videos on the features of the consumer model of the endurance, which is a direct competitor with the Ford Lightning XLT and it's the same price and a better truck and capabilities here. Now, I just, this is joint production agreement. This is what they're talking about. Now, as my understanding of this joint venture is, okay, these are just some macro topics that are going to influence this joint venture as well. Biden should punish Saudi Arabia for backing Russia. The idea here is that Riyadh can make a difference in the oil markets, which has chosen the side with fellow authoritarians rather than the United States. This means they're going to limit their supply of oil, crude, keeping prices up so that any sanctions against Putin are going to be muted. And, you know, this is going to keep oil prices up and it's going to keep up the demand for electric vehicles. Fox kind of said we are masters at manufacturing electronics, sourcing electronics, doing just in time inventory for electronic manufacturing. We know how to do all this, but we don't know how to build electric vehicles. Lord's time has said we know we have gone through every step of the process of creating a built-to-purpose electric vehicle and getting it to market. We're now at the production stage. We know how to do this specifically with electric vehicles. So these are the services that Lordstown is going to provide under this agreement. Planning and program management, and this is, again, the President's Valleywick here. Planning, market segment, specification, vehicle development, program timing, target setting, deliverables, business case, launch management. This is all high-tower stuff here. This is getting a disciplined program in place to design, to research, to develop, design, and implement an electric vehicle. This moves from the program management step to the creative design. Again, this is something Lordstown knows how to do. Modeling, rendering, packaging, engineering. So these are skills that Foxconn lacks. When they get to engineering, also Lordstown, by the way, Lordstown has 600 employees. I think people are overlooking that, or they did. I imagine a lot of them are working at Fox right now, but all these engineering people are Lordstown people. And by the way, Lordstown has reserved a 90-acre site of raw land at the Lordstown plant, I believe, for a future building that will house their engineering and design facility. Okay, now they've got the engineering. And again, this is purpose-built EV engineering. This is not OEM modified to do battery electric vehicles. This is from scratch electric vehicles. Not many people have this experience or do it well. And I believe the endurance is going to show a well-made vehicle. Vehicle components, subsystem, propulsion chassis, thermal interior safety body. Okay, basically everything you need here to make a vehicle, homologation, certification, safety, all these things that the endurance has gone through that have been the learning curve for Lordstown Motors that they have the staff in place to do all this. Mule, seating, components, safety, proving ground, software, everything you need to make a battery electric vehicle from scratch to production ready. Lordstown knows how to do. They have recent, relevant, direct experience, better than any OEM, better than Rivian, I believe. And they also have the most manufacturable vehicle with the hub motor. So this is what Lordstown is going to bring to the table. This is what Foxconn is going to bring, sourcing. They have strategic sourcing from all over the world, statement of requirements, all of this stuff, workflow, market tests, sourcing, planning, make versus buy, commodity buying, all this is the Ballywick of Foxconn. They have all of this in place for what they're doing already and there are some crossovers in the technology used in electronics and a battery electric vehicle. This sourcing is going to be a key, chip stages. Bought a chip foundry, we could go on and on. They are known for their, just in time inventory, making millions of iPhones, for example, sourcing all of those parts, pulling them all together and manufacturing. And then you get to manufacturing and this is the other strength of Foxconn. With electronics, they just have this down. This is all they've ever done, is these two things right here and they started from the very beginning of the electronic industry, very beginning of computers. They made connectors, okay, wire harness connectors. That's Foxconn, FoxConnections. That's how long ago they started. They know this inside out, this business. So if you add these two together with the Lordstown is going to design everything, Foxconn is going to build everything. And this is the magic. This is what the joint venture is all about. Also down here we have other things. Quality is going to be both parties, Bellewick, but I think Lordstown is going to engineering quality and then Foxconn is going to make sure that it's manufactured with quality. Now these variable costs, Foxconn is going to be, you know, material, labor, plant facilities, tooling, all of this, all these as DJ Dan said, asset-like manufacturing. All of this, all these building material costs, all this is going to be handled by Foxconn. And when they manufacture a vehicle for a client, they're going to say, we're going to manufacture this vehicle for a fee of, you know, $10,000 plus to build materials. Foxconn is going to handle all this. Anyway, and, you know, the warranties and so forth are going to be handled by the owner of the brand, I'm sure, but backed by Foxconn with their quality. So this is how it's going to work. And the way this is going to work is Lordstown is going to provide this ability to Foxconn, okay? Okay, for that, and Foxconn is going to use it to manufacture the Lordstown Endurance first. I suspect the high top Lordstown van and the three road Lordstown SUV are going to be the next two products, but they also have other manufacturers lining up. I'm sure they have a lot of them sourced. Foxtron, which will be the brand by Foxconn of cars, perhaps the Sony car, which Foxconn works for, perhaps the Apple car, which Foxconn works for already, perhaps the Google car, which Foxconn works for already. Okay, in these cases, those three companies are going to provide their own software flavors and so forth. Lordstown is going to engineer out the vehicle for them. They're going to throw their layer of software on top of it. Foxconn is going to manufacture the whole thing. It's going to be like making a phone. They're going to put the Sony brand on it. They're going to put the Apple brand on it. They're going to put the Google brand on it. Okay, this is how this is going to work. And how Lordstown is going to fund the endurance out of this is, it's going to be designing these other vehicles for Foxconn, collecting fees, which is going to plow into the manufacture of the endurance, which I believe is going to be distributed in North America under the Lordstown brand and internationally under the Foxtron brand. And Foxconn is going to pay a fee for every one they sell. Lordstown is going to pay internationally and Lordstown is going to pay Foxconn a fee for every one they make for the domestic version. All this is going to get the carbon credits flowing, the pollution credit money flowing, also revenue. And it's going to spin up mass production and global demand. And Lordstown could make 60, what's it, 60,000 vehicles a year? That was ICE vehicles. If we doubled that to 120, I'm sure they could do 120. With Foxconn in there, who knows. They could probably double that to 250,000 units a year. I wouldn't doubt it. I wouldn't doubt it. But anyway, this is basically, I hope you understand that I tried to work this out so that you get an understanding of what this is all about. And this is a big concept. I think CEO DJ Danny is right on top of this strategy and Hightower is implementing it, so executing it. And I think Foxconn sees the writing on the wall and it sees the hub motors for what they are, the best thing going with for EV propulsion. Now, if we just go through this cross-functional organization can engineer and deliver EV programs for multiple OEMs along with subsystems and components. Subsystems and components, I think is a key word for hub motors and their associated systems. Anyway, again, this is the Lordstown end of this these are all the engineering functions and body and interior and propulsion and all of the engineering work that goes through homologation, design, commercialization, program management. This is the Lordstown side. Then you get over here, this is the Foxconn side. Purchasing, advanced manufacturing, quality control, marketing voice of the consumer and finance. I think maybe Lordstown will have a bit to do with this but maybe not. Perhaps Foxconn is gonna just, they know what their customers are wanting. So, but anyway, the point is these are how the duties are gonna split up and this is how this marriage is gonna work and I do think it's a two plus two equals five equation in my book and it's putting this manufacturing power of Foxconn and along with Lordstown's Battery BEV experience and they have it, they have the chops, they have the product. Foxconn has the chops, they have the sources. I mean, this can all work. Now, we'll just move over here. Example, Lordstown motors also has the capability to develop electric architecture for other OEM users of the MIH platform and this again, just goes back to the engineering expertise of Lordstown motors. Again, Lordstown engineering, Foxconn build. This is a rather confusing display here but the point is, I think, again, Lordstown motors, their engineering capabilities for other users, I think an implication here is on the drivetrain, specifically hub motors. Okay, but anyway, again, the same idea, Lordstown engineering, Foxconn build. Okay, again, under this joint venture, they can develop components and capabilities for the MIH program. Again, I think it implies hub motors but a lot more than that, okay? And this is the market trends. Now, this is interesting. These are kind of complex charts. You can look up this your own but these are demand curves for different electric vehicles. Each one of these colors represents a brand. Okay, this is the Ford F-150 here and then you got down here, the Bright Drop GM van, for example. The point of all this is, we are right here right now. We are at the beginning of this curve, okay? In the next two years, this is gonna double, triple, quadruple, okay? The same thing here. We're right here now for the vans. What are the vans gonna do? If we're right here now, the vans are gonna one, two, three, probably triple. So now is the time to strike before the competition grows market share and this is exactly what the CEO of Foxconn said. We wanna move quickly to establish market share before our competitors do. This is what Lordstown can do. This high-top van is completely engineered at Lordstown. They have the stamping dies for the body panels already in a soft mold. I'm sure they're talking about retooling and I'm sure some of the retooling was making the hard steel stamping molds for this van. This van under Lordstown Motors is ready to go and that could again be distributed in the United States under the Lordstown Motors brand and under the Foxconn, Foxtron brand internationally. So I think this is a telltale exactly what's gonna happen and there's a three row SUV based on the Lordstown Motors military vehicle was a preview of that. But this just gives you an idea of how all this fits into the market and into Foxconn's strategy. Again, Steve Burns was a software guy, okay? And MIH is very heavily software oriented. You put the two of them together. This chart you can review on your own but we're looking for the 4.0 vehicle. Lordstown vehicle design. You got the Foxconn, Wisconsin cloud center. It's gonna serve us probably the whole planet, okay? What this is all coming down to is self-driving and 5G. And 5G connectivity to the cloud and self-driving. And Lordstown, again, Steve Burns, a software guy, founded the company with a heavy emphasis on software. He's a software guy first. This is what it's all about as well. And evolution from functions to services, okay? And that service is gonna be self-driving and that is gonna be the Foxconn, Wisconsin center. And the Lordstown vehicle design is gonna design the vehicles. They're gonna use MIH and other software from Lordstown. It's all gonna flow through the Foxconn, Wisconsin center. That is my opinion. And again, this is an elaboration of that same idea, self-driving, okay? I think that this is a goal of this company and it's a goal to apply the self-driving to the fleet vehicles. Imagine that, delivery, all automated, okay? Now, just to close this out, they're talking about supply chain localization. There's already been an infrastructure of suppliers built around this Lordstown plant, which can be revitalized. They can get all the parts they need there. There's rail spurs, there's so forth. I just wanted to point it out. This is where Lordstown is. You can go through the Great Lakes, you can go out, boom, you're in Europe. You can go over here, you can go by rail, go to the other coast. Boom, you're in Asia, okay? You can go down here, go down south, boom. South America, you can go down here, you can go down to, okay, this is the second factor. Apple supplier Foxconn suspense production had two China factories, SMC reports. The idea is that, this is on Tesla here. Anyway, Foxconn has managed to shift this production elsewhere. However, it is in the favor of opening up BEV manufacturing in the United States so that they do not have to deal with these COVID factors. Anyway, those are a couple of macro factors that could affect this joint venture as well in favor of the joint venture. Florida, right? Where you wanna go? You wanna go to the Middle East? You wanna go to wherever, the Caribbean? The point is this plant was located at this location. It wasn't an accident. It's located there, it's at a nexus. It can serve all these markets and all these USA markets. It's at the intersection of some major highways, rail spurs, water is not far 60 minutes away if they wanna go to the Great Lakes and so forth. So this is a killer setup. And again, all these suppliers, if they aren't there now, they can be there. There is also their industrial parks, it's all established. Seeding companies were there under Lordstown and so forth and all these components and suppliers and so forth were already in place and they already know the lay of the land and everything. So this is a great deal for Foxconn and I think there's a lot of synergy between Foxconn and Lordstown. I think they're gonna hit the ground running once this agreement is met. We're all hopeful that this agreement is gonna be met. I'm not a financial advisor, I'm not an engineer, I'm not a professional or anything. I am just saying in my opinion, this is going to be a very, this is the new model for General Motors. While General Motors is thinking or forward or thinking about how they're gonna reinvent them as a battery electric vehicle company, this is the new new. This is how you're gonna make battery electric vehicles. The combination of these two models and it's gonna be Rivian. Tesla has such a head start, we don't know, but the Cybertruck is not a competitor of the endurance and I think when it comes to costs, manufacturability, of course Tesla has a great advantage, but the propulsion system provided by the hub motors designed and manufactured by Lordstown Motors just cannot be beat. As I said, I'm sure Elon Musk would have used them had they had been at the state of development where they are now when he started his company. Okay, this is MXUX, I hope you liked the presentation. Thanks for watching.