 Hi, this is MXUX. I'm doing this video on the Foxconn deal with Lordstown Motors And I wanted to go over first in this first section about Foxconn and what they're trying to do. Foxconn is known for the iPhone building and all that business in the giant factory Where people jump off the roof. Hopefully that's not gonna happen at Lordstown. Anyway, what they are doing is they are Develop they want to get into and here's their logo Foxconn with the They're from Taiwan. They're a Taiwanese company or Chinese if you want to put it that way They're developing what they call an EV kit concept and Just like you develop apps for an iPhone They're gonna do the same thing Their concept is to do the same thing with electric vehicles and They're developing a skateboard and and the whole infrastructure to build a car and then the API or the app is going to be What you design the body panels so on and so forth so though all the mechanicals Are going to be in a skateboard So we got here There's going to be drive-by-wire installed for self-driving a rolling chassis and They're gonna have an auto-design app actually an app which customers can use to design what they want to build Okay, this is not a lie. So I have here an API like kit to develop EV like It's like developing an app for an iPhone So you go in now you go into the app you design the car you want Boom in the contract Foxconn to build it So contract manufacturing the EV kit concept. That's what they're looking to do. So they've got a Couple let me go over this and see if I can explain it. It's a new concept They have an open ecosystem for EV development. They have AutoWare Which is an open-source software this is from AutoWare, which is another another entity Operating in this conglomerate or group of companies They're developing open-source level for self-driving, which is what Tesla has right now and Level five is no human contact So they're doing that for an open source and they're going to offer that to their clients and they're going to put in drive by Wire in the cars they build to enable this open-source Automatic driving Program and they have a community of developers and hardware and software This is set up as a nonprofit organization You know George Hott's like comma AI same kind of thing But this is part of what they're offering in their EV kit concept. So the software and the hardware to run it Plus the rolling chassis, which is battery motor so on and so forth and then the auto design app to design the body in the interior So while they're working with AutoWare on this and This is making the future EV Here's the deal They're offering software choices for go-to-market design plus manufacturing so In other words You design it we build it use the app will get you ready to go to market. So not only do they have The manufacturing the rolling chassis the whole deal they have the software they integrate everything This allows you to go to market With your product now now Fisker is is a client now of magna, but it's going to be a client of Foxconn So Fisker does the design and branding and MIH which is a Control software conglomerate battery sort of thing AutoWare the self-driving and Foxconn the builders Do the rest Fisker picks and chooses the options and These guys get together and let's just call them Foxconn from now on you can investigate this yourself It's a rather complicated web of different entities that are working together have a short video on it later So they offer a full stack software for the future EV autonomous driving OEM product so what they're offering is You want to build a self-driving EV? Design it on this app Take these drop-do these drop-down menus. Tell me what tell us what you want to do battery motors blah blah blah and you can build it so They're calling it EV kit it's a collection of services and components and software and this could be for new cars or an existing EV car so People that are doing original Manufacturing the OEM like Ford or whatever they could buy this software as well And they could also contract Foxconn to build it for so what the deal is Fisker is The client Fisker does the branding the design the marketing and the business model Which in their case is affordable SUV direct direct to consumer by Fisker and Foxconn is going to do all the building Fisker will own the dyes, okay, so the the dyes will be Proprietary the stamping dies we've gone over this at Lordstown But everything else is going to be with Foxconn and and The EV kit will do the rest and you just you just choose some options So this is the idea with with Foxconn This is what they want to present to the world really and magna does something similar to this But I don't think magna is in this deep magna builds ice cars in China and magna is building Fisker's current SUV offering so Existing automakers can just use certain components Japan and Taiwan are doing this approach So here's here's what they say They're going with a team approach the Asian approach is the team approach versus the USA Self-sufficient approach, which would be the Tesla model Okay, and this model has worked in Japan magna for example builds Mercedes there and so forth. That's one of the brands they build In the USA, it's Tesla And I think one of the reasons that Tesla went totally self-sufficient which Lordstown Motors found out was They will try to stymie you anyway They can't that's why Lordstown Motors had to put that frame shop in because they were frozen out of the frame market by the OEM Manufacturers that are in existence now This is why Tesla went all in now when you got these 10 or 15 companies all working together It presents a moat that they OEMs the original OEMs the ice manufacturers can't cross So anyway, and they're talking about the Craftsmanship timing or paramount with the EV kit concept Okay, as well as open-source software for the self-driving So they're talking about high-quality manufacturing just in time manufacturing of the inventory to sell directly to customers and Open-source software for self-driving, which Tesla probably should be worried about This could knock the blocks right out from under Tesla Is Foxconn making Apple Apple cars we don't know The MAH platform can be used by any company globally that wants to make EVs and that's a key concept so MAH is another organization that's involved in the battery motor stuff control systems As well as the entertainment system, I would imagine so could Foxconn make the Apple car Yes Foxconn can under this plan Which they are executing can make anybody's car for anywhere in the world and Looks like Tesla is a self-driving key target for this open source It's a stack. They call it a stack And I have level level four, which is the highest you can go without being legally Allowed to call it self-driving and comma AI via George Hott's I've done it mentioned him in my videos in the past very interesting guy very interesting system Same type of concept only these guys have he's a Independent and they have incorporated it into a corporate framework And again MAH this is the the other entity that's involved we've got Fisker and we've got Well Fisker, what was the other company? MAH auto wear and Fisker and and Foxconn are involved so You've got MAH, which is an ex-Apple guy Next computer guy They're gonna do they're gonna do the level four self-driving integration But we also had battery management software and other software the software ecosystem for the car So you got one a doing open source Self-driving you got the other one doing the operating system for the car and crilling battery management and then you've got Foxconn doing the physical building All of this is in the works to speak All part of Foxconn's plan for EVs Foxconn what's a diversified? This is key here. They want to diversify them the EVs and Here it is using up to design a vehicle and Foxconn will build it like an iPhone so that's the concept that's why they bought the plant Lordstown and They were supposed to build a plant in Minnesota There's they'd initially did it to build the flat panel displays and then they were going to put an EV car Thing in and then this came up Lordstown came up and they saw the chance to take it and I'm just gonna take a second here take say a couple of things This is like I forget what the replacement value on this factory is like three trillion dollars There's a couple thousand robots in there paint shop This is this is such a deal Foxconn are no idiots. Okay, and As I initially thought and I just wanted to make this point as I initially thought You know did Lordstown get taken and the new CEO is a New York finance guy and During the I'll just tell you a quick story during the financial crisis in 08. I was in a bar and There was a guy there and he was celebrating the market crash Now just tell you his first name is great He actually owned a seat on the New York Stock Exchange. He said back when that meant something, but anyway, he had a private Hedge fund let's say and he had eight or ten guys. They're working with him and he had hedge the The collapse and he made all kind of money short and everything so anyway I was talking to him and I forget what the topic was I think the Japanese were buying all the real estate in New York City at the time or something and he said to me he goes There is No one is going to outdeal a New York finance guy. It is not going to happen. No one on the planet Is going to do in a New York finance guy? They're apex predators. They know what they're doing And he said I feel sorry for the Japanese and he was right eventually about all of that But the point is what I thought when I first heard this was oh my god They got but you know what you got to have confidence in the CEO Because he's the right man to do this and I think he knows what he's doing Anyway, I'm gonna go into the next section here with these videos. I'm gonna pause here for one minute Okay, this is Mx ux. This is a I'm gonna show a couple of video clips here. This is the first one this is a Autoware MIH and Foxconn are all at this Symposium and they're talking about the new open source or the new The new way to build EVs using the system I just talked about with Autoware doing the autonomous driving MIH doing the Operating system of the car and Foxconn building the vehicle so This is the the guy who heads up the open source self-driving effort And he's introducing the chairman of Foxconn, which I'm gonna play just to give you guys an idea of what this guy What he's about. Let's see if we can do this Thank you for joining Tier 4 Summit 2021 I'm Shinpei and I will be presenting as chairman of the Autoware Foundation Which is another role I have alongside Tier 4's founder and the CTO This is the last but the most exciting session Here I'm joined by Foxconn chairman Yandu to help me kick off this session To discuss Foxconn's significant EV efforts based on recently launched open platform alliance MIH and Autoware's involvement as well Hello Chairman Liu. Thank you for joining me today Hey, thank you, Shinpei. I really appreciate the invitation chairman of Foxconn First of all, I'd like to congratulate you on the success of Tier 4 Summit 2021 Tier 4 and the Autoware Foundation have done a remarkable job Developing truly open source based autonomous driving technology Look out Tesla. As you may know, Foxconn recently initiated MIH and the EV Open platform to accelerate the innovation and the development of the EV industry I believe both MIH and Autoware share similar goals in terms of autonomous driving In that we both are working towards making a positive change in the future Automotive industry. Thank you. We are privileged to have you with us today I think just going to pause this for a second MIH I don't know if I can find a clip with the guy talking who heads MIH That's the ex-Apple guy. They're doing the car operating system So Autoware is the self-driving MIH is the operating system and battery control Okay, and then Foxconn is doing the assembly think people's interests and Dedication to the EV industry is glowing. So can you tell us a little bit about MIH and what's actually going on with open platform now? Before we dive deeper into the MIH alliance and so on Sure, Shinpei. I'm very excited about MIH's future developments and more importantly the collaboration between MIH and Autoware But not sure. I'm the most appropriate person to talk to about MIH Similar to Autoware, MIH is now independently led by Jack and William Foxconn launched the open EV platform last October Both Jack and William are currently looking at autonomous driving technology as well Jack and William are much better suited to discuss this topic with you. I'm Looking forward to the discussion among you The open platforms are the future. Let's change the world together Right, what is that channel? So they're talking about the open platform. That's the Platform that you build the body on you use the app to build the body on everything else is all done. So I'm gonna see if I can't This is let's just get a real quick clip of this guy here This is the guy from This guy is X next X apple And he's doing the he's an MIH and he's doing MIH I do a little bit of introduction of myself I'm a 40 years of a veteran in the automotive field It's a pleasure to meet everybody from here. I work on the neo for the last five years As a new startup as a EV company now Coming into MIH is a pleasure where I'm leading this charge of MIH as a new initiative To bring all the alliance into the MIH. Thank you Thanks Jack William. Hi everybody. Hi Shinpei My name is William way and the MIH CTO. I also serve as a fast-con group CTO and my background is I'm from Apple background before that was next next computer and apple builder tool builder and very excited to talk to eight of the F foundation So anyway, that that'll give you an idea of Who's on the other side of this deal? these are some heavyweights in China It's a big deal These are some of the most powerful people in the in these different industries. I mean Foxconn You can't get much bigger than that and these these other players as well So this is this is a heavyweight group of players that are coming in. They're gonna launch this open platform They're gonna launch this Manufacturing as a service in the United States at Lord's time As long as the deal goes through but I think it will go through but anyway I just wanted to give you guys an idea and this is a short video about the Foxconn EV platform Which may or may not be what we were just talking about I haven't really found a lot of information on this platform But it is planned this is February 21st 21, let's just play this short video here Supplier Foxconn is planning to make a debut in the electric vehicles market this year experts say this could transform the iPhone assemblers into collaborators for the i-car Apple's ambitious EV project the Taiwanese electronic giant said two light vehicles using its own design Platform will be unveiled in the fourth quarter along with some electric buses It already unveiled its first-ever EV chassis and the software platform last October Meanwhile, Apple has been seeking production partners for the i-car along with Foxconn South Korea's Hyundai Kia Japan's Nissan and Germany's Volkswagen are being brought up as possible candidates All right Anyway guys, that's a That's a brief Snip it from them. The thing is this is obviously in in play Foxconn is still getting all their Ducks in a row so But that was a blurb and they mentioned Apple will the Apple Carby build at Lordstown. I don't know. I Suspected I made another video. I had fair day future as the Apple car manufacturer but as Carl Brunsfeld the head of a fair day future said in the future the cars will be interchangeable the The computers and the self-driving computers and software will plug in to the chassis So that could be a modular take that Apple is thinking about using anyway that gives you an idea of where Foxconn was in Now I'm just starting this in mid-video here. This is the Fisker ocean now This is the car that Magna is building. This is on another kind of an open platform The Magna I think it might have Volkswagen involved in the platform of this this car is not going to be built at Lordstown Just give you an idea of the type of vehicles Fisker's building. They're doing the design business Concept and marketing of this and this whole vehicle is built by Magna so Just to give you an idea here now. I'm gonna I'm gonna stop this And we're gonna go Okay, this is the the promo for the project pair that stands that's an acronym for something personal electric alternative Something or other This is the Fisker promo spot It doesn't say a whole lot But this is the vehicle that Foxconn and that collective is going to build at Lordstown Is going to be the pair vehicle and this is going to be like a $34,000 vehicle And it's going to use the everything we've been talking about for the last half hour Anyway, that's Fisker Just to give you an idea pair that's the vehicle they're going to build at Lordstown So we'll see how how that hi. This is MX UX now. We're going to go through the second portion of this Video here, I'm going to take these headphones off. This is the that was all about Foxconn and what they're doing This is the LMC end of the deal with the with Foxconn. Okay, and The deal feel fully consummate would mean Foxconn would pay Lordstown 230 million for his plant and buy 50 million of the EV start-ups common stock Beyond certain customer agreement is non binding. So the thing is They're saying Q2 next year. This is going to be finalized. I Said in a previous video that They would not be talking about this if it wasn't going to happen because of the SEC and the DOJ thing with the Foxconn with Lordstown, but you're looking right here at I don't know What is that 300 million? I think If everything's taken into account, there's I don't want to say that you know Q's view did a great video on this. I think there's about 500 million Coming into Lordstown at the end of all this, but certainly The 230 and 50 let's just say what the cash they have on hand. This puts them at about 500 million the magic number for car makers To launch the endurance Now the thing is Yeah, let's just do that. Yeah, you do this plus the cash they have on hand of 210 million So 240 to 300 million. I don't know There's a lot of money involved here at least 300 million I'm not going over the finances of this deal. I'm trying to go through the mechanics again Q's view Excellent video on this. You can take a look at that for the numbers Uh Foxconn would perch in the Lordstown facility excluding Lordstown Excluding Hub assembly line badgulate battery module and packaging line Okay, so Uh And certain intellectual property rights and other excluded assets for 230 million. So what they're getting is they're going to get the frame shop I think And the paint shop and the stamping shop and the assembly line and all that Lordstown is basically keeping everything they put in except For the frame line and it seems like they're going to maintain rights the north american rights to the hub motors And other excluded assets which may include the frame shop. I'm not sure but the point is Foxconn is buying everything that basically that that uh Lordstown hasn't Built up on their own and of course as with fisker They'll retain all the dyes that they have made for the endurance for the stamping dyes and the soft dyes that they've made for the van and um So basically, um They're going to get a long term lease. I'm going to go over that later But anyway, that's what foxconn is buying buying the rest of the plant and all the robots and all the fixtures and everything Both entities would negotiate negotiate a contract manufacturing agreement Which would be a condition of the closing of the purchase whereby uh foxconn would match Would uh foxconn would manufacture lordstown motors endurance full-size pickup truck So basically They're going to take over the the manufacturing line and uh the endurance is going to be a model built on that line that line I was told could build three models different models simultaneously maybe more with an ev So they can manufacture multiple models on that line at one time and of course foxconn could do anything They want with it as well to improve that Uh lordstown motors would also agree to provide foxconn with certain rights with respect to future vehicle programs so uh The deal with the manufacturing deal is going to work that they're going to get a commission a commission on each vehicle They build for lordstown. This is how they've been doing it. Uh, the deal they have with fisker or the deal fisker has Most likely it's going to be the same thing for the endurance So you got the endurance going off the line There's going to be a discount to lord to general motors on the credits EPA credits and then there's going to be a fee going to um Uh foxconn for the manufacturer on each unit and then you're going to have some dilution With the stock as well But I think this still fits into my price prediction of 2025 of uh 100 uh over 100 dollars a share. I think the top end was 120 um, so um I think that this isn't going to change the stock value that much. I think once that this vehicle gets off the line Uh that the lordstown stock is going to go up because This actually is not a bad deal for lordstown. Anyway And certain rights with respect to future vehicle programs one of the future vehicle programs I'm really excited about at lordstown Is their suv They can produce on a frame with solid rear axle The endurance version of the Mercedes g-wagon. It would be so bad ass Seven passenger suv full towing capabilities four-wheel drive 600 horsepower A mercedes killer, okay, and that's actually the vehicle they were going to do next They did the fan setup because they thought they were going to get the postal contract, which they didn't get but anyway That is the future vehicle. I think uh foxconn is talking about um concurrently with the closing under the definitive agreement lordstown missions would issue warrants to foxconn warrants to buy the stock uh Not expired until the third anniversary of the closing for 1.7 being shares At $10 per share. So again There is dilution. It's not That much and this is a carrot to keep Uh foxconn on the ball and so forth their warrants exercise will third anniversary so you know That's when they can they can Exercise those So there is a stock component. Not only are they buying 50 million They're building did another what is this 20 million here? So they're gonna have about 70 million in which is what uh general motors has in uh lordstown stock Uh Okay, the parties have agreed to explore licensing arrangements for additional truck pickup truck programs They are gonna they are going to take this This is the ultimate pickup truck the ultimate electric pickup truck Foxconn knows this with that straight rear axle. Nobody can touch this truck You watch they're going to be building Electric pickup trucks for everybody using the lordstown endurance design and that's going to be licensed to foxconn and It's going to be a money printing machine Falling to closing under definitive agreements lord samos went into a long-term lease, okay For a portion of the existing facility so They are selling they're selling the building out from under them They probably have what like it's probably like a 90-year lease or some outrageous thing like that and um Also would offer employment to lordstown operational and actual manufacturing So I think that uh foxconn is going to keep everybody in there that knows what they're doing right now That got this lineup and running and they're just going to add on to that and change it and update it as they see fit um now Lord son also has employees in california That aren't mentioned here and employees in uh, Detroit that aren't mentioned here. So this is the only manufacturing area uh, now this is uh This is a quote from the guy from uh Foxconn, I believe the innovative design of the endurance pickup truck with its unique hub motors delivers a very advantageous experience and has manufacturing efficiencies Absolutely, it will undoubtedly thrive under our partnership and business model You know, nothing could be more true than that uh And this guy from foxconn sees it. He knows it and it is the truth They are going to be selling these pickup trucks. Let me tell you in addition. This facility would serve as a speed to market Asset that would also support foxconn partner and customer fisker So they're going to build the the fisker pair also at lordstown, which is You know the first vehicle that's going to be designed using an app That's going to use this whole system that foxconn has worked out and it's going to be built at lordstown And this also could be quite a good car We'll have to see and this is from the uh, uh chairman that we just saw of the uh, of foxconn So innovative design Hub motors manufacturing efficiencies. This guy knows exactly What he's talking about this guy Foxconn sees money this guy knows how to make money and he's right the manufacturing efficiencies. They're going to be able to I'll tell you anyway uh We are excited about joining the prospect of joining forces with world-class smart manufacturer like foxconn and believe the relationship Provide operational technology and supply chain benefits to our company And overall uh accelerate overall scaled vehicle production and increase employment lordstown It will increase production Allow lordstown to take advantage of Foxconn extensive manufacturing expertise and especially the supply chain Because they're over there in taiwan with tsmc and they got the chips, right? They already got the chips for the iphone While freeing up lordstown motors to focus on bringing the endurance to market Developing service offerings for our fleet customers and designing of the developing new models so again Lordstown is going to turn into the apple. All right guys. I just want to put a close on this That was a pretty long video. I haven't gone on for a while. There's a lot to cover on this story No one's covering again. There's no coverage whatsoever. I hope you find this interesting This is the interesting stuff here. I am not a financial advisor I said that when I started our success as a company is tied raised in the access of this plan But anyway, I hope you like the video Uh, I just want to ask you guys to like and subscribe We had to do it with us. So there you go. Uh, I'd like you to go and I'm not I'm a supporter I want to see that little speech about I know you guys support me. I think this is a bad deal at all This doesn't attract enough traffic to be monetized. So if you want to keep getting this information You got to help me. You got to subscribe. You got to like this you got to comment And I do read all the comments Anyway, thanks a lot for watching. I really appreciate it. Sorry about the link Had to be it is what it is. All right, guys. Thanks very much. So we're talking about I hope you like the video We'll see you on the next project I'll tell you that's going to be a killer A killer for lord's time Uh, under the attendant of deal fox con would provide a down payment of 100 million At the signing And then the balance of 130 would be due at closing Okay On april 30th, so they're going to get 100 million up front plus the 50 million So they're going to get 150 million up front And what do they got 210 million in hand? So that's 310 360. So that's about 400 million which I think certainly will get them Uh to the certification with the the epa and the national highway transportation safety and the other certifications that they need Uh and get them to start a production Uh, I believe they're serious about it is what navaji says and You know what? This is a great deal for both parties here. I think I think it's a A big win for lord's town. It's a big win for that locality And this is a whole new way of producing vehicles in the united states This has been done in uh in china before Again with mag magna and some other companies, but this is the first in the house in the united states I hope I explained it You know, basically you get an app you design the interior and exterior of the car And you pick some drop down menus what you want and they build it for you It's great. Anyway Uh and these are quotes from the CEO of lord's town and again, he's a new york finance guy I don't think he would do a bad deal Sounds like a good deal to me And um This is i'm going to try to go to this link right now This Is a Uh This is from the local news station there wkbn channel 27 And this is a video about Um The uh purchase Let's unmute this more growth in the years to come inside what had once been general motors largest plant Shopping for your next vehicle is easy at fred martin ford Click here and bring the dealership right to your desktop or smartphone Request a quote appraise your trade even fill out a simple application to get pre-approved in minutes Ford advertising CEO dan ninivaji Spoke five phone in a short time ago a senior reporter jerry rachuti They talked about the reason announcement agreement and principle with tylenese electronics maker fox con Now he says the location of the lord's town complex was a key to bringing that deal together The location of the supply base In ohio and surrounding communities and of course the people you've got to train professional workforce here That's ready to go a turnkey plant. It's phenomenal. It's a it's a perfect combination of things for somebody who wants to build an ev manufacturing hub Now the deal between lord's town motors and fox con should be complete by the end of next april Shopping for your next video. Okay so There we go guys and uh, I hope you like that presentation Um, I think I've gone through the whole thing. I'm going to do a short section here on The stock prices today and the stock symbols. Okay. Thanks for watching. I'm xux here So, I mean this is a service I use that does some technical analysis Uh, and we're looking at ride stock here 585 the entire market was down today, uh, I just thought it would be interesting to take a look at At this, uh analysis here, uh, we've got Resistance, so let's go down resistance is at 658 according to this service And support is at 477 So we closed at 585 so That's where that is now this is very interesting. These are different MACD MA or SI everything's bearish MACD is neutral and long run the Fibonacci's intermediate are bullish And the highs are very bullish long run and the lows are very bullish intermediate And the stochastics are bullish and we got a bearish signal here so all in all Pretty negative analysis of ride here with a bad day in the market I think a lot of people got stopped out of this stock with stop losses But uh, I think this deal is invigorating And uh, let's just take a look and you can see here. This is the daily chart We opened at 660 and we're down to 5 580 or whatever the case may be not a very pretty chart. Um, the All market was down today. Let's just take a look and see if there's any headlines here Uh, why lordstown stock sank again on monday. Well, let's see. Let's just take a look at that Uh stock market jowl in a ride putting call. Let's take a look at this just for giggles. All right guys I just want to put a close on this. There we go. That was a pretty long video. I haven't been on for a while There's a lot to cover on this story. No one's covering it. There's no coverage whatsoever I hope you find this interesting. There's a lot of really sank on monday interesting stuff here Get another rival service financial advisor. This is not a rightful service This is a failed Anyway, I hope you like the video I just want to ask you guys to like uh subscribe and share the video Uh, I like lordstown. I'm a supporter I want to see it succeed. I know you guys support me. This cannot be modded. This doesn't attract enough traffic to be Monitoring so I want to keep getting this information. You gotta help me. You gotta subscribe You gotta like happy with the development and I do read all the comments. I'm happy. Anyway, thanks a lot for watching I really appreciate it more. Sorry about the link but had to be It is what it is. All right guys. Thanks very much Uh, I hope you like the video. We'll see you on the next one. Okay. So, you know, this is old news again Motley fool just wants to do as much negative press on lordstown as possible um These factors might have said lordstown crashing double there against looking over smart investors instead of betting on stock betting some out of his views waiting further updates about of endurance production and delivery timelines at a time when rivals continue to leap ahead now here's the thing First of all Motley fool has never written a positive article about uh lordstown and I'm just going to dissect this for one minute the Rivian Heavy steering at high speed four and a half foot bed. The seats are hard. The stereo is lackluster. The operating system of the vehicle is glitchy and slow um It's not even a truck They're not showing any highway test driving it because you know It's not any good on the highway the steering. It's too heavy and uh, they are talking about the charge times either Uh, but you know in any case that's a lifestyle vehicle. It is not a work truck like the endurance It's not even the same class. So then we'll move on to the next competitor. Who is that cyber truck? Same thing Not going to matter Again, both rivian and cyber truck could cracks me up They both have trunk lids in the bed of the truck that open up that you can store things in or put spare tires in You know, if you're working with a truck you're dropping heavy stuff in the bed all the time That is going to dip those lids and they're never going to hope you're going to need a crowbar to open them These these are not work trucks. Neither one of these are work trucks. They'll never work as a work truck. Okay, forget it They're not they're not the endurance. They're not even close. Then we go to the 40 f 150 This is all I got to say about the 40 f 150. I've gone over this forever You know the 14 hour charge time if you wanted if you want to get the high battery and the uh Home charging option you're going to have to run Eight gauge wired thick as your finger To the outlet three strands of it just to get the thing charged. Okay You're going to have to have a minimum of 200 amp service in your house to even charge the thing Okay, and that's one thing. Well, and then we can talk about the weight and then we can talk about the battery The the whole thing about the Ford is this They're planning a whole new Endurance, I mean lightning in 2025 that says everything. This is a stopgap vehicle It's not going to perform I mean, there are some people that will only buy for they're going to buy it Anybody that's looking at a real for a real pickup truck. It's going to buy the endurance and by the way As one of my viewers commented he talked to some insiders at Ford uh I thought there were all 70,000 and above models that were ordered the 150,000 orders They say they have that they can talk about that lords that I can't He tells me it's 90,000. They're all 90,000 dollar trucks So they are not going to sell any of the fleet trucks I don't even believe I don't even think they're going to make any of the fleet trucks In the next two three years not until the new model comes out. That's my take, but uh these guys Motley Fool, let me tell you these guys are phonies. They're fakes They've never put out any positive news on right as neither has anyone else Now they can try to paint this as negative as they like. This is a great I think this is a great development and I think that this is Going to be the way cars are made Okay, as I said Tesla had to had to forge the way and and And be the trail breaker and they had everybody against them That's why they had to bring everything in the house Now the industry is more mature. We have mature players in it. The technology is more mature We can go through this manufacturing as a service model And in any case Lordstown has better technology more efficient technology And it's interesting that the head of Foxconn Recognizes that But anyway, that's my two cents on that Okay, just wrapping up with these two charts now. This is a chart on fisker Um, and this is a one-year chart and I believe they went public via spec They had a high here of what about 27 And they've been going up and down in their trade net 14 and uh This uh their pair vehicle is going to be produced at uh Lordstown Uh, just give you an idea of the symbol and what the chart looks like Um, and again down on the day we had a pretty rough day in the market today But uh, just give you an idea of where the price is and they enjoy a higher price than Lordstown Okay, anyway, this is a Foxconn's chart for the last year Uh, and they've gone from 540 to 777 It looks like And they were up above nine for a while there now the thing about uh, uh, Foxconn Or h and php a few about whatever it is is There's their revenues. I mean Their revenues are high Like 48 billion dollars or something like that, but they only make two billion dollars of profit off of that So a lot of revenues, uh, looks like tight margins, but um Them, uh, you know, they dominant, you know, they dominate the phone industry, right? They're going to dominate the car industry So I just wanted to give you guys a look at these two charts and let you know Those are the two other companies involved Along with uh with ride and uh, we should we should put ride up here. Let's put ride up Uh Let's just see here. Well, wait a minute. Hold on. Let's get ride up so you can see the same chart. There we go There we go. Come on, right? All right, and let's go to charts There we go. And here's the ride chart for comparison And you can see this is the one-year chart on ride Ah, yeah, we okay so, um Again, we were up around 31 at some point. I believe and now we're down at 585. So there's ride 585 There's fisker 14 And there's fox con at seven Anyway guys Uh, I'm going to wrap this up with a summary at the end. I hope you like the video Sorry, it took a while to get this out. I've been trying to update some, uh production values here And uh, and I had a dentist appointment. All right. Let me try to put a summary together on this Okay, guys, I'm going to close this out. I'm just going to go over a couple of details on the Lordstown site here But I just want to mention one thing. I was watching the tellos of uh, tellos of guy Uh, the guy with the red beard and red hair. He was doing a live cast about the Rivian Uh and uh A stream and I I got on there and I and he's talking he didn't mention Lordstown And I typed in the comments. What about Lordstown Lordstown Lordstown's doing the same thing? You know, no one knows anything about this truck except us in in the community here Me you and Mc in Q's views. That's it. This guy was clueless and I like this guy. I think he's very company He had no idea what was going on at Lordstown. He goes, oh, that's kind of a clean truck Knows nothing. So, you know anybody else that's talking about Lordstown doesn't know what the hell they're talking about I'm just want to put that out there and I showed you the motley fool is, you know Guys, this is going to be a sleeper. I think it's all going to Come to fruition here. Hopefully this deal pulls through. We're going to see Anyway, I think this is a great update for Lordstown. I do not see it as a negative As Dan Novagi said, you know, if we're not using 60 of the plant then 60 of the plant's a liability this way they got that liability off their shoulders and you know It's a win-win for everybody concerned. They're going to get to production And Foxconn is going to be a monster in EV production. Will there anybody likes it or not? I don't think there's any way they can lose really anyway Perforator of trucks blah blah blah. They're talking about the Foxconn thing here Blah blah blah production of the endurance. This is what we want to talk about here Move forward plan to build a limited number of vehicles for testing. This is EPA have Verification and regulatory approval to the balance of 2021 and the first part of 2022 in light of Foxconn agreement the company will evaluate the potential impact of a party's contract manufacturing on commercial production So in other words, they're basically on the same schedule. They were going to do a start of production limited number I gave them one quarter Of leeway on the start of production Which would Put them at the beginning of next year And it looks like they're pretty much going to be on that schedule They're talking about the manufacturing relationship with Foxconn blah blah blah integration and timing. So, you know, we have to give them some Space to work this out, but It will update its production plan during our q3 2021 earnings call for in mid november so I think that's all we're going to go to but the point is They're pretty much on schedule I don't see this as a delay I think it looks to me it appears to me that they're working straight through all of this going for the certification And you know the EPA and the national transportation safety is blah blah blah and I forget who else Has to certify For production they have to get those certifications before they can do production so They're probably going to certify and get right up to production and then They're going to probably hand off to foxconn And I think this is going to be more Lordstown than foxconn in the beginning And Lordstown is going to be teaching foxconn anyway Financial outlook capital expenditures sg You know now the sgna, you know, I got to tell you this is this is the thing that's blowing up their budget It's the legal cost It's producing it's defending against these stupid sec actions and doj actions that are costing them so much money Okay, so the the cash September 30 2021 down Okay, so 210 it's down from 270 so it's down like 50 million. Okay So We've got to do a deal And I think this is the deal to do anyway Let's all look forward to the mid-november earnings call And they're going to give us an update. I think they're moving towards certification as we speak And they're hammering out this deal and I think navaji is the right guy to be there I am very happy. I don't see the price of the stock reacting No one understands this company. No one understands foxconn what foxconn is doing You know, you have to dig a little deeper to even understand anything that's going on here Most people are too lazy To do that and that includes all the analysts and everyone else and commentators on television And youtube so Those of us seem to know know what's going on and I think this is a very positive for lordstown and Provided it goes through and navaji says he believes it will This deal is going to launch a whole new era in ev manufacturing And I do believe these guys are going to challenge tesla as well. Anyway, thanks for watching guys I hope you like the video And uh, please like and subscribe. I hate to ask that but you know these lordstown videos No, but it doesn't attract you. You can't monetize nobody attracting it attracts nobody except us So if you want me to keep coming with this information and I want to keep putting it out there and I support lordstown Please like and subscribe and share the video. Sorry. Thanks a lot. That's mxux. Thanks for watching All right guys. I just want to put a close on this That was a pretty long video. I haven't been on for a while. There's a lot to cover on this story No one's covering it. There's no coverage whatsoever. I hope you find this interesting. There's a lot of really Interesting stuff here. I am not a financial advisor. This is not financial advice. This is a business case study actually Uh, but anyway, I hope you like the video Uh, I just want to ask you guys to like and subscribe and share the video will you? Uh, I'd like lordstown. I'm a supporter. I want to see it succeed I know you guys support me This cannot be monitored. This doesn't attract enough traffic to be monetized So if you want to keep getting this information, you got to help me you got to subscribe you got to like you got to comment And I do read all the comments. Anyway, thanks a lot for watching. I really appreciate it Sorry about the link, but had to be it is what it is. All right guys. Thanks very much Uh, hope you like the video. We'll see you on the next one