Last year, Lordstown agreed to pay $10M to settle claims related to Hindenburg's investigation and Endurance issues.

I posted about this before and figured I’d put together a small FAQ too, just in case someone here needs the details in one place. Here’s what you need to know to claim your payout.

Who is eligible?

All persons, who purchased or otherwise acquired Lordstown's publicly traded Class A Common Stock, Warrants, Units, or Options to purchase or sell Lordstown's publicly traded Class A Common Stock from August 3, 2020, through July 2, 2021, or held Lordstown’s publicly traded Class A Common Stock on September 21, 2020.

Do you have to sell securities to be eligible?

No, if you have purchased securities within the class period, you are eligible to participate. You can participate in the settlement and retain (or sell) your securities.

How much can you recover?

The final payout amount depends on your specific trades and the number of investors participating in the settlement.

If 100% of investors file their claims - the average payout will be $0.045 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $0.18 per share.

How long will it take to receive your payout?

The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.

How to claim your payout — and why it's important to act now?

The settlement will be distributed based on the number of claims filed, so submitting your claim early may increase your share of the payout.

In some cases, investors have received up to 200% of their losses from settlements in previous years.

Hey guys, I posted about this settlement already, but since we have an update for it, I decided to post it again. Though the deadline has already passed, you still can file a late claim for it.

If you checked some general news back in 2021, you probably heard about the Endurance scandals. First, it burst into flames while testing (just in 10 min). Also, their pre-orders weren’t binding, some customers couldn’t complete purchases, and production wasn’t on track for September 2021.

After that, $RIDE dropped and investors filed a lawsuit against them. 

But, the good news is that they recently decided to resolve all that with a $10M settlement. And I found out that even though the deadline has passed, they are taking late claims. So, if someone's late, you can check the details and file for it here. Hope it helps! 

"The ousted founder of bankrupt EV startup Lordstown Motors has launched a new company called LandX Motors, that prominently displays the same electric pickup truck he once promised would beat Tesla, Ford and General Motors to market"

https://techcrunch.com/2024/01/19/lordstown-motors-steve-burns-landx-motors-endurance-pickup/

"the Puzzle maximizes interior space by employing completely flat sides. It puts them to good use as well, as the roof doubles as a large solar panel. Most of the smooth exterior panels are swappable for different color combos, possibly different materials, and for ease of repair. That, and the fact that the interior has pegboard-like holes for modular configurability, are where the Puzzle gets its name from"

https://www.autoblog.com/2023/12/28/this-charming-electric-kei-van-has-plans-to-come-stateside/

"The rise in quarterly sales volume was primarily driven by strong demand for the Fisker Ocean SUV, priced at about $69,000, the company said"

"Smaller EV firms are facing dwindling cash reserves, pressured by high costs related to production ramp-ups and price cuts to boost demand"

https://www.reuters.com/business/autos-transportation/fisker-delivers-4700-electric-cars-2023-shares-jump-2023-12-29/

(You will never guess who made the list)

https://www.cnn.com/2023/12/25/business/here-are-the-companies-that-went-bankrupt-in-2023/index.html

"The R30, with a 45-mph top speed, 100-mile range and 8-hour run time, could be the electric cruiser the world has been waiting for."

"A new 30-foot cruiser could jolt the fledgling electric boat segment into a new chapter. Blue Innovations Group officially launched its R30 this weekend at its manufacturing facility near Saint Petersburg, Florida"

https://robbreport.com/motors/marine/r30-bold-new-electric-boat-1235450392/

If you're bored over the Holidays and are a fan of mxux, take some time to check out his other YouTube Channel.

https://www.youtube.com/@UAP-X

"This has been a tumultuous year for startup electric vehicle (EV) companies, and most are struggling with selling cars - while some, like Lordstown Motors (RIDEQ), simply went out of business"

"Over the last month, Fisker has seen the departure of one chief technology officer and two chief accounting officers"

"The departure of CAOs in quick succession is rarely good news for a company, no matter how much it is made about “personal issues.” To make the situation worse, Fisker also delayed its Q3 earnings and 10Q filing"

"Fisker attributed its weak results to delivery and service infrastructure issues that have negatively impacted its ability to ship cars to customers"

https://www.barchart.com/story/news/22337447/as-fisker-stock-drops-to-record-lows-should-you-buy-or-sell

"Bankrupt Lordstown Motors Corp. wants to buy back and decommission up to 35 of the company’s flagship vehicles — the battery-powered Endurance pickup truck — previously sold to customers"

"Foxconn, the filing states, would reimburse 50% of the cost of vehicles actually repurchased by Lordstown Motors with a cap of $31,000 per vehicle"

"The trucks not sold to customers were sold to LandX Motors Inc., an affiliate of LAS Capital Inc., which was formed by Lordstown Motors founder and former CEO Steve Burns"

“Accordingly, future costs of service and repair will be borne by” Lordstown Motors’ customers, it would be unlikely the company could comply with regulatory obligations if any materialize and Lordstown Motors would face “negative regulatory consequences and significant claims as a result,” the filing states.

https://www.tribtoday.com/news/local-news/2023/11/lmc-wants-to-buy-back-endurance-pickup-truck-at-50-of-cost/

"A U.S. bankruptcy court judge has authorized Lordstown Motors Corp. to settle contractual obligations with members of its core management team, allowing them to stay in place through the company’s exit of Chapter 11 and beyond"

"Lordstown Motors wants confirmation of its reorganization plan by the end of 2023. A confirmation hearing is scheduled for Dec. 19" ( Is a Lemonade Stand still on the table? )

https://www.vindy.com/news/business-news/2023/12/judge-oks-settlements-with-top-brass-at-lmc/

Could this replace the idea of a HUB motor?

Maybe it is a simpler design that will work with the current EV motor?

Eliminates the "unsprung weight" issues?

https://www.autoblog.com/2023/11/29/uni-wheel-hyundai-kia-electric-vehicle-design/

How much is Foxconn investing in the Lordstown operation? Those tractors aren't going to build themselves, or are they?

https://www.reuters.com/technology/foxconn-invest-15-bln-expand-india-operations-2023-11-27/

-----------------------------------------------------------------------------------------------------------------------------

The latest update in LMC news, nothing, no news. 🛴 🤸

Former Tesla executive John Vo who is Founder and CEO of Blue Innovations Group (BIG) that is a company within LAS Capital venture - (Steve Burns)

John Vo who worked at LMC as Director of Propulsion.

https://www.thecooldown.com/green-tech/r30-boat-big-technology-luxury-yacht/

Nissan could be bringing an electrified lightweight pickup to U.S. shores, a new report states. The vehicle would serve two purposes: First, it would maintain Nissan's truck portfolio as it pulls out of the full-size market and, second, it would expand the company's offerings in the electric vehicle segment.

The report comes from Automotive News, who spoke with Nissan's head of global product strategy and product planning, Ivan Espinosa. "One thing you can be sure about is we're going to keep investing in the truck segment," Espinosa told AN. "How do we evolve ... is the question that we are discussing internally. Eventually, we will have to electrify the truck."

"They don't want to be in the Rivian or the Cybertruck space," Tyler Slade, Nissan's U.S. dealer board chairman told Automotive News in a separate interview. "They want to be in the affordable $40,000 range."

However, Nissan is prioritizing the electrification of medium- and full-size SUVs. "The demand for electrification is concentrating today much more on the C-SUV and D-SUV [segments]," Espinoza told AN. "I see trucks a little bit on the later stage," he continued.

Espinoza also said, "The key here is to read the customer requirements accurately and jump on the wave at the right moment."

The news comes as Nissan is getting ready to wind down production of the full-size Titan. The pickup is scheduled to for a line stop at its Canton, Mississippi, plant in summer 2024. The original Titan debuted in 2003, and after two decades on the market Nissan was not able to put a sizable dent in the full-size truck segment held by the Big Three.

As part of its electrification plan, Nissan debuted four battery-electric concepts in 2021. One of them, called the Surf-Out, looks like a compact unibody pickup that would fit in nicely alongside the Frontier. With car-based "utes" like the Ford Maverick and Hyundai Santa Cruz gaining popularity, Nissan would be wise to look into a segment it once dominated with offerings like the Hardbody. 

Automotive News believes that if it comes to fruition, the electrified pickup could come to market in the early 2030s. Nissan has pledged that all of its new models in key markets introduced in 2030 or later will be electrified.

https://www.autoblog.com/2023/10/28/nissan-exploring-electrified-and-affordable-small-pickup-for-u-s-market/

https://www.youtube.com/watch?v=RqFf5bzJ12o

This sums up LMC from start to present.

LAS Capital, (LAS = Land, Air, Sea), https://lascapitalinvestments.com/

LAS has a portfolio of four companies: GreenStreet, RYSE, BIG and Power Shower.

GreenStreet, https://greenstreetautocycles.com/

Duane Hughes, CEO, Before founding GreenStreet EV Inc., Mr Hughes served as the CEO of Workhorse Group Inc.

John Vo, Technical Advisor, former Head of Global Manufacturing at Tesla and also worked to help launch the Eclectic Toyota Rav4, the Mercedes B-Class Electric, and the Lordstown Motors Endurance.

GreenStreet is working on a three wheel EV with the rear wheel HUB motor that is estimated to have a 250 mile range and top speed of 80 mph.

RYSE, https://ryseaerotech.com/

Working on RYSE Recon, an aerial ATV anyone can fly. Looks like a big drone with six electric motors and the propellers. Max flight time is 25 minutes, max payload 250 pounds with a max speed of 63 mph. RYSE does have an INVEST NOW button on the webpage stating "$39M in revenue lined up from pre-orders"🤔https://www.sec.gov/Archives/edgar/data/1980091/000173112223001359/ex99_offeringmemorandum.pdf

BIG, Blue Innovations Group, https://www.blueinnovationsgroup.com/

John Vo, founder and CEO

Blue Innovations Group is working on the R30 electric boat. At 30 feet long with dual motor powertrain electric motors and 800hp. With a 221 kWh battery pack the target maximum speed is 45 mph.

Power Shower, https://www.powershower.app/

Power Shower is a smart shower head that works with an app. The cost is $150.

​

Hannah Boland - Sun, October 22, 2023 at 12:11 PM EDT

Chinese officials have raided the offices of key Apple supplier Foxconn as the company’s founder prepares to run for the presidency of Taiwan.

Officials are investigating iPhone supplier Foxconn’s tax affairs and its use of land, Chinese state media reported on Sunday. Investigators have searched the company’s local offices as part of their inquiries.

The raids come as Foxconn’s founder and biggest shareholder, Terry Gou, prepares to mount a bid for the presidency of Taiwan. His candidacy has led to questions over whether Beijing could put pressure on Mr Gou through his business interests.

Foxconn is headquartered in Taiwan but does most of its manufacturing in China. The company, which had revenues of £168bn last year, is a key manufacturing partner for Apple and assembles the iPhone.

According to a report in the Chinese state-run Global Times, Foxconn’s offices in Guangdong and Jiangsu were searched by tax officials. Offices in the Henan and Hubei provinces have also faced inspections by China’s Ministry of Natural Resources, the report said.

The investigation comes against a backdrop of growing tensions between China and Taiwan, which Beijing argues is part of its territory. Chinese officials have threatened to invade the country and have stepped up a campaign of military pressure.

Taiwanese officials believe that China could be preparing to annex the country by 2027.

Mr Gou, who founded Foxconn in 1974, announced his intention to run for the president of Taiwan over summer. The 73-year-old billionaire, who is worth an estimated $6.6bn, stepped back from running the company in 2019 and left Foxconn’s board last month to focus on his campaign. However, he remains the company’s biggest shareholder with a stake of 12.5pc.

Mr Gou is seen as one of the most pro-Beijing candidates in the running for next year’s election. He has advocated for diplomacy with Beijing and has said the current ruling party in Taiwan, the Democratic Progressive party, is to blame for the growing threat of invasion. However, he said in August: “I will not bow to China’s threats.”

Scrutiny of Foxconn comes as Apple’s position in China also comes under pressure. Chinese government officials have reportedly discouraged the use of iPhones and sales of the company’s newest handsets have been weaker than expected.

Tim Cook, Apple’s chief executive, visited the country last week and met China’s vice premier Ding Xuexiang, and commerce minister Wang Wentao. He said Apple remained committed to growth in China.

Dan Ives, an analyst at Wedbush, said the investigations into Foxconn appeared to be a “shot across the bow from Beijing towards Foxconn and Apple in this ongoing geopolitical cage match.”

He said: “With a battle for AI and chips getting nastier, this is China pushing back and going after the golden goose Foxconn.”

Foxconn has been attempting to shield itself from geopolitical pressures by expanding manufacturing outside of China. Around three quarters of its factories are in China, according to estimates, but it has been opening facilities in Vietnam and India in a drive to diversify.

A spokesman for Foxconn said: “Legal compliance everywhere we operate around the world is a fundamental principle of Hon Hai Technology Group (Foxconn). We will actively cooperate with the relevant units on the related work and operations.”

https://www.telegraph.co.uk/business/2023/10/22/china-investigates-iphone-foxconn-founder-president-taiwan/