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News

How Bankruptcy Affects The Future Of The Lordstown Endurance Electric Pickup Truck

Lordstown Motors started out with a bang. Its Endurance pickup was featured at the White House in 2020 with President Trump praising the design. “This is incredible”, Trump mentioned in describing the truck. Trump went on to explain the advantages that the corporate would convey to Lordstown Ohio, with the founder Steve Burns claiming 100,000 vans can be constructed within the Lordstown plant. Senator Rob Portman from Ohio mentioned that Lordstown would rent 1,100 folks that 12 months, and the world would newly be christened, “Voltage Valley”. However, Lordstown Motors didn’t create a “voltage valley”. None of this occurred.

Lordstown didn’t promote 100,000 trucks. It didn’t rent 1,100 individuals. It didn’t do something however go bankrupt, and get sued and investigated by the SEC. Yet, miraculously, evidently the Endurance pickup will stay on despite all of this. Burns has someway snuck the belongings out of the failing firm, and brings them to a brand new house in his latest enterprise LandX. Here’s what we all know in regards to the Lordstown debacle and the way forward for the Endurance pickup.

In order to provide the newest and correct info potential, the info used to compile this text was sourced from producer web sites and different authoritative sources, together with C-SPAN, Reuters, Hindenberg Research, Automotive News, and The SEC.

Lordstown Endurance parked

Related

Lordstown Unveils The Endurance Electric Pickup Truck

The prototype was introduced on the stage however no info was supplied about it

Lordstown Motors Filed For Bankruptcy In 2023

Lordstown Motors launched in 2018, with its Endurance Pickup deliberate to go to market in late 2020. Then it pushed again the discharge date of the electrical truck to 2021. Then it pushed the discharge date again to 2022, after promoting its manufacturing facility to Foxconn, and agreeing to have Foxconn be the contract producer of the pickup.

The failure to get to market completely undermined the whole mission of the corporate. Lordstown’s aim was to be the primary American EV pickup on the highway. However, throughout the time of its delays, the Ford F-150 Lightning and Rivian R1T have been accessible to the general public first. The truck truly hit the streets in late 2022, however virtually instantly had a recall on account of a propulsion difficulty. If all of this wasn’t unhealthy sufficient, Lordstown filed for chapter in June 2023.

Lordstown Motors Had A Bevvy Of Financial Issues

A white Lordstown Endurance
Lordstown

Lordstown had entered into a deal with Foxconn to receive $170M. Foxconn, nonetheless, solely invested ~$57M to accumulate an eight-percent stake in Lordstown. Lordstown sued Foxconn over the hole in cost. Lordstown claimed that Foxconn persistently modified the necessities within the settlement to attain cost. At the identical time it filed the Foxconn lawsuit, Lordstown filed its Chapter 11 chapter. The firm meant to be offered to an even bigger participant within the area.

Before the chapter, in 2021, the analysis agency Hindenberg published a report that blew the whistle on Lordstown’s shady enterprise practices. Lordstown repeatedly claimed, even to the President of the United States, that it had orders for 100,000 vans. However, these orders have been by and enormous not actual. Many corporations and consultants have been paid to create orders that they by no means meant to fill.

Other companies merely took benefit of the no-cost, no-obligation reservation system to make themselves look higher by being tied to Lordstown’s electrical truck. The wake of this report precipitated a seismic shock in Lordstown’s C-Suite. Steve Burns, the founder, offered his whole share and the CFO resigned.

Lordstown has by no means been a financially steady firm, and as soon as the layers are pulled again, it seems the EV maker is nearer to a fraud operation than a automotive firm. Lordstown was a bell cow for a change within the EV market. Per Reuters:

“The bankruptcy of Lordstown signals that the days of successful EV startups is in the rear-view mirror,” mentioned Thomas Hayes, chairman at hedge fund Great Hill Capital. “Moving forward it will be Tesla and the traditional incumbents … that will duke it out for market share.”

This is unhealthy information for corporations like Rivian and Fisker, if that is true. However, we are inclined to assume that different small EV makers usually are not fairly on the extent of Lordstown’s scheming and plotting.

The Company Was Sued By Karma Automotive

4 door hybrid ev parked
Karma Newsroom

Beyond inside points, Lordstown additionally had points with different EV corporations. Karma, a inexperienced automaker, alleged that Lordstown poached staff from Karma and stole commerce secrets and techniques as properly. Karma initially sued Lordstown for $900M. However after the chapter information, Karma accepted a $40M settlement. Rather than try to bilk the penniless firm out of cash it did not have, Karma took what it may get, together with a $5M royalty for the usage of infotainment expertise.

2022 Rivian R1T

Related

The Future Of Electric Pickup Trucks

Electric vans are already right here with hybrid and full EV variants in existence, however what does this imply for the long run?

Lordstown Has Also Run Afoul Of The SEC

2023 Lordstown Endurance
Lordstown Motors

Lordstown’s troubles do not finish with lawsuits and chapter. We can’t declare to know whether or not Lordstown is responsible, nevertheless it actually has been accused of committing crimes towards its buyers. Here’s what we all know in regards to the SEC prices.

The Company Has Been Charged With Misleading Investors

The SEC has said the following on Lordstown’s actions:

“We allege that, in a highly competitive race to deliver the first mass-produced electric pickup truck to the U.S. market, Lordstown oversold true demand for the Endurance,” mentioned Mark Cave, Associate Director of the Division of Enforcement. “Exaggerations that misrepresent a public company’s competitive advantages distort the capital markets and foil investors’ ability to make informed decisions about where to put their money.”

The SEC introduced these prices on February twenty ninth, 2024. So practically a 12 months after the chapter, the hits hold coming for Lordstown. Not solely has Lordstown needed to pay thousands and thousands in court docket settlements and money owed, it now offers with prison prices for its underhanded enterprise techniques. I

In this SEC case, Lordstown has already agreed to pay $25.5M to the SEC in a cease-and-desist and disgorgement order. However, this cost doesn’t embrace an settlement or denial of the SEC’s findings. The SEC’s investigation remains to be ongoing, and there’s no telling the place this might wind up.

white 2023 Lordstown Endurance

Related

Why Lordstown’s Downfall Is A Breath Of Relief For All Electric Truckmakers

While Lordstown Motors was in scorching water for some time, it looks as if the EV truck phase would possibly’ve misplaced a stellar all-electric pickup truck.

The Lordstown Endurance May Live On

A white Lordstown Endurance
Lordstown

Despite all of this nefarious dealing, the Endurance pickup truck shouldn’t be fairly useless. In truth, it appears like Lordstown itself shouldn’t be even useless. Lordstown has emerged from chapter, as a new corporation called NuRide.

NuRide is already buying and selling on the inventory market and opened at $2.80 per share. Not solely does the precise Lordstown firm stay on, however so does the Endurance. Due to some opportunistic buying throughout the chapter, the Endurance pickup will nonetheless be produced, although beneath a brand new identify.

Steve Burns, Lordstown’s Founder, Has Bought Assets From The Bankrupt Company And Founded LandX, An EV Company

Steve Burns based Lordstown, and isn’t performed together with his pursuit of an electrical pickup truck. In January 2024, Burns introduced that he had began a new EV startup called LandX. LandX claims to be the “future of mobility”. This is a relatively ridiculous declare, as the premise of the whole firm is a failed pickup that might not get to market earlier than its opponents.

It is totally unclear what LandX’s market plan is. It doesn’t also have a new identify for its pickup. It doesn’t have a worth, an order system, or actually even a option to manufacture the vans, as Foxconn at present owns the plant that constructed the Endurance, not NuRide or LandX.

It appears unlikely Foxconn would enter right into a cope with an organization that’s so intently tied to 1 that sued them inside the final twelve months, and is run by somebody who couldn’t adequately cope with Foxconn in manufacturing EVs up to now.

LandX Is Marketing Pickup Trucks Identical To The Endurance

White Lordstown Endurance
Lordstown Motors

On LandX’s website, there are photos and movies that includes the Endurance. This shouldn’t be merely a truck that appears much like the Endurance, or making use of the identical physique, it actually bears a Lordstown brand proper on the location. This is extraordinarily complicated, as LandX is seemingly a completely new firm to each the failed Lordstown, and the brand new firm, NuRide.

Simply put, we aren’t positive what’s going on with the Endurance. We have no idea what the long run for the Endurance is as a result of Steve Burns has not made any concrete strikes as to what is going to occur with the truck. The new firm LandX does seem to hunt to create extra electrical pickups which can be based mostly solely on the Endurance’s construct, however whether or not it will likely be the very same truck (together with the identify) we’re uncertain. Unfortunately, virtually each celebration concerned here’s a mess, and it’s troublesome to discern the long run with these gamers.

Space

This Cannibal Star Has A Badass Metal Scar

The white dwarf that has researchers intrigued is named WD 0816-310, and it’s the remnant of a star barely extra large than our Sun. All that continues to be of that star now’s the white dwarf core, which is about the identical measurement as Earth.

The researchers have been capable of find out about this metallic scar by seeing how metals have been distributed throughout the star’s floor. The metals aren’t evenly unfold however are slightly concentrated specifically areas. They may inform this by seeing how the energy of the sign coming from the metals modified in energy because the planet rotated.

The modifications in detection ranges of the metals have been additionally associated to modifications within the magnetic area of the white dwarf. The outcomes recommend that the metals are clumped across the magnetic pole, which supplies a clue to how they received there: The researchers assume that the magnetic area acted like a funnel for incoming matter from the planetary chunk, pulling it onto the star’s floor and creating the scar.

“Surprisingly, the material was not evenly mixed over the surface of the star, as predicted by theory. Instead, this scar is a concentrated patch of planetary material, held in place by the same magnetic field that has guided the infalling fragments,” stated co-author John Landstreet of Western University, Canada. “Nothing like this has been seen before.”

Motorsport

This Mazda Protege Rear Door Could Sell For $200,000

Once upon a time, the black and white door you see right here was a part of a late Nineties Mazda Protege. In truth, perusing the pictures at Julien’s Auctions the place this door might be offered, you’ll be able to see a Mazda sticker on the within of the window together with the unique tan inside panel. But the magic takes place outdoors, the place avenue artist Banksy painted an outline of an individual trying skyward, amongst different issues.

Now, the door could possibly be price excess of your complete automobile from which it got here. The public sale home lists an estimate of $100,000 to $200,000 for the door, however we can’t know the precise worth till February 15 when the bidding wraps up. It’s a part of Julien’s avenue artwork occasion going down in Beverly Hills, although on-line bidding is open proper now. It’s unclear if there are any bids presently, however the motion begins at $25,000. For the file, that is significantly greater than the Protege’s as-new sticker worth again within the day.

 

The door is only a portion of Banksy’s unique creation. Called “Crazy Horse,” your complete Mazda and the facet of a field truck had been painted to depict a fairly spooky conflict scene. The automobile featured individuals trying up on the truck, which had horses carrying night time imaginative and prescient goggles bearing down on them. Per the public sale description, the scene included a telephone quantity that, when dialed, performed audio clips of a 2007 airstrike in Iraq. The Apache helicopter concerned apparently had a code title of Crazy Horse 18, offering the inspiration for this work.

We could not dig up something official concerning the whereabouts of the remainder of the piece, however a Banksy-focused weblog claims the car and truck were removed just days after going up in October 2013. The truck and automobile – lacking each driver-side doorways – had been allegedly loaded onto a truck and hauled away.

Any guesses as to what the ultimate bid worth might be? Jump into the feedback and tell us your ideas.

Featured

Hyundai Creta Facelift Reaches Dealerships Ahead Of Launch

The 2024 Hyundai Creta has been noticed at a dealership in Atlas White exterior shade and it gave the impression to be a completely loaded variant of the SUV

2024 Hyundai Creta

  • Bookings for the facelifted Creta are open for Rs 25,000.

  • Exterior revisions embrace linked headlights and taillights, and contemporary alloy wheels.

  • Inside, it will get twin built-in shows and a redesigned local weather management panel.

  • New options embrace a ten.25-inch digital driver show, ADAS and dual-zone AC.

  • To be provided with three engines and 5 transmission choices.

  • Expected to be priced from Rs 11 lakh (ex-showroom).

The 2024 Hyundai Creta has already been unveiled in its entirety exhibiting its up to date design and revamped cabin. Its bookings are already underway for a token quantity of Rs 25,000, whereas the costs are set to be introduced on January 16. Ahead of its official launch, a number of items of the 2024 Creta have  reached dealerships. 

Updated Front & Rear Look

2024 Hyundai Creta Front

The unit noticed on the dealership was completed within the Atlas White exterior shade. It gave the impression to be a higher-specced variant of the SUV because the radar for the superior driver help system (ADAS) will be seen within the entrance bumper. Its fascia has been revised utterly and it now boasts a redesigned grille (just like that of the brand new Venue), and an LED DRL strip with inverted L-shaped signature spanning the width of the bonnet. The headlights have now been built-in into the squared housing and the distinguished silver skid plate provides to its rugged look. 

Also Check Out: New Mahindra XUV400 EL Pro Variant Explained In 15 Pictures

Save for the contemporary set of alloy wheels, the profile of the 2024 Creta stays unchanged general. Talking in regards to the rear design, the facelifted SUV options linked LED taillamps with the identical inverted L-shaped signature as seen on the entrance. Its rear bumper has been redesigned as effectively, and it additionally incorporates a silver skid plate.

Also Check Out: Tata Punch EV Interior Revealed, Gets Dual 10.25-inch Displays And Updated Centre Console

New Cabin & Features

Hyundai Creta facelift Interior

Inside the 2024 Hyundai Creta, it will get a totally revamped dashboard, which now includes a twin built-in display setup (10.25-inch infotainment system and 10.25-inch digital driver’s show). Hyundai can also be offering it with a brand new local weather management panel with touch-enabled controls with dual-zone performance (for the primary time), as seen on its sibling, the Kia Seltos. The prime part of the dashboard on the passenger aspect now features a piano black panel that encases the aspect AC vent. 

Talking about options, the 2024 Creta is provided with 8-speaker Bose sound system, panoramic sunroof, wi-fi cellphone charging, 8-way power-adjustable driver’s seat, and ventilated entrance seats. Its security package contains six airbags, a 360-degree digital camera, and the protection quotient has even been elevated now with the introduction of 19 level-2 superior driver help methods (ADAS).

Powertrain Options

Hyundai has retained the outgoing mannequin’s petrol and diesel powertrain choices on the Creta facelift: a 1.5-litre naturally aspirated petrol engine (115 PS / 144 Nm) accessible with both a 6-speed handbook transmission or a CVT, and a 1.5-litre diesel engine (116 PS / 250 Nm) paired with a 6-speed handbook transmission or a 6-speed automated transmission. With the facelift, Hyundai may also offer the SUV with the choice of a 1.5-litre turbo-petrol engine (160 PS / 253 Nm) mated to a 7-speed twin clutch transmission.

Expected Price & Rivals

The 2024 Hyundai Creta is predicted to be priced from Rs 11 lakh (ex-showroom) onwards. It will proceed to tackle the likes of the Kia Seltos, Maruti Grand Vitara, Volkswagen Taigun, and Honda Elevate.

Read More on : Creta Automatic

Cars

Understanding the Messages in the Color of Your Engine Oil

When you check the color of your engine oil and notice that it has turned milky white, foamy, sludgy, or light brown, it is an indication that something might be seriously wrong. A visual inspection of the underside of your oil cap may reveal milky oil, which is usually thicker than regular engine oil. This milky appearance suggests that there is moisture or some undesirable liquid present in your oil system.

In the worst-case scenario, this could be a sign of a blown head gasket. The head gasket prevents coolant from entering the engine’s cylinders. When it fails, coolant leaks into the oil and mixes with it, resulting in the milky appearance. Other causes of milky oil include the formation of sludge in the crankcase when an engine remains idle for an extended period and the mixture of oil with humidity in a humid climate. Additionally, driving through deep water can also contribute to this issue. If you suspect water has entered your engine, it is recommended to avoid driving your vehicle.

Milky oil cannot perform its intended function effectively. If left untreated, it can negatively impact engine performance, cause corrosion, and damage various components. Therefore, it is crucial to consult a mechanic as soon as possible to determine the underlying cause and proceed with the necessary repairs. Once the cause is identified, the engine will need to be drained and flushed to remove the contaminated oil before fresh oil can be added.

Motorsport

White, Black, Gray Dominate Our Car Landscape, Except In Alaska

White, black, gray, and silver cars dominate the car landscape in the US, according to a study by iSeeCars. These grayscale colors make up 78.9 percent of vehicles on the road, an increase from 78.6 percent in 2022 and 77.2 percent in 2018. However, the distribution of these colors varies across the country. White is the most popular car color, adorning 26.2 percent of used cars in 2023, up from 23.3 percent in 2018. The share of black cars decreased to 21.8 percent, while gray cars saw an increase from 15.2 percent to 19.2 percent. On the other hand, silver cars experienced a decline from 15.1 percent to 11.7 percent. Blue and red switched positions, with blue now being the fifth most popular color at 9.8 percent and red ranking sixth at 8.2 percent. The top six colors, including the grayscale shades, account for 96.8 percent of all vehicles. The remaining colors, such as green, brown, orange, beige, purple, gold, and yellow, make up the remaining percentage. Alaska stands out as the state with the most colorful cars, with over a quarter of its vehicles having non-grayscale colors. Blue is the most popular non-grayscale color in Alaska at 13.5 percent. Hawaii, on the other hand, has the least colorful cars, with 28.6 percent being white and only 16.3 percent being blue. This may be attributed to the large number of rental vehicles in Hawaii, which are often white. The study analyzed over 10 million used vehicles sold between 2018 and 2023 to compile its data.

Lexus

ROC NATION AND LEXUS PARTNER FOR NEW INSTALLATION AT THE BOOK OF HOV EXHIBIT

  • JAY-Z’s Iconic “Off White Lexus” Parks At The Brooklyn Library

PLANO, Texas (September 14, 2023) – Roc Nation and Lexus proudly announce the addition of a 1993 Lexus GS 300 at The Book Of HOV, an immersive exhibit at Brooklyn Public Library’s Central Location. The iconic Lexus was first featured in JAY-Z’s “Dead Presidents” visual, and then in the lyrics of “Can I Live” and the #1 hit, “Empire State Of Mind.” Situated alongside the Central Library on Eastern Parkway, the Lexus is the first of artifacts that will be added to The Book Of HOV.

Since its opening on July 14th, the library has hosted over 255,000 visitors, close to quadruple the number over the same time in 2022 and cards sign ups have more than doubled with over 21,000 new accounts created in association with the limited edition JAY-Z cards.

The Book Of HOV is a tribute to Carter’s global impact as a musician, entrepreneur, philanthropist and disruptor. It was also constructed as a surprise to Carter and as a celebration for both his hometown of Brooklyn and the broader hip-hop community across the world.

“We’re excited to partner with Lexus to bring JAY-Z’s iconic ‘Off-White Lexus’ to The Book of HOV. The new installation adds another element of JAY-Z’s career to the exhibit that visitors can enjoy,” states Desiree Perez, CEO, Roc Nation. “The response to The Book Of HOV has been overwhelming, so we’re excited to extend the exhibit to December to ensure new and returning attendees can have enough opportunities to fully immerse themselves into the experience.”

The inclusion of Carter’s 1993 Lexus GS 300 in the iconic “Dead Presidents” visual further solidified the brand’s place in culture. As one of the most mentioned automobile makers in hip-hop, Lexus is synonymous with the lifestyle that defined an era.

“In further celebration of the 50th anniversary of hip hop, we are thrilled to partner with Roc Nation in this special tribute to JAY-Z’s musical legacy,” says Mia Phillips, senior manager, Lexus Advertising & Media. “The vehicle display is recognition of the mutual respect and admiration between Lexus and JAY-Z, whose brilliance and contributions to culture extend far beyond hip-hop.”

The 1993 Lexus GS 300 will be on display for the remainder of The Book of HOV exhibit, which runs through December.

About Lexus

Lexus’ passion for brave design, imaginative technology, and exhilarating performance enables the luxury lifestyle brand to create amazing experiences for its customers. Lexus began its journey in 1989 with two luxury sedans and a commitment to pursue perfection. Since then, Lexus has developed its lineup to meet the needs of global luxury customers in more than 90 countries. In the United States, Lexus vehicles are sold through 244 dealers offering a full lineup of luxury vehicles. With seven models incorporating Lexus Hybrid Drive, Lexus is the luxury hybrid leader. Lexus also offers eight F SPORT models, one F performance model and one F model. Lexus is committed to being a visionary brand that anticipates the future for luxury customers.

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Technology

5 Best White Noise Apps for Android

If you’re new to white noise apps and want to go for one with a large user base, Calm may be a good option. It has an “Editor’s Badge,” with over 50 million downloads on Google Play and a high rating of 4.5 out of 5 stars. It’s also one of the top-grossing apps in the health and fitness category.

When you open the Calm app, it will ask you about your goals, such as reducing stress or anxiety, improving performance, or getting better sleep. You can create an account using your email address, Facebook, or Google account. There will be prompts to upgrade to the premium version, but you can close them if you’re not interested.

While Calm is primarily a meditation app, it also offers various sounds that you can play as white noise for better sleep or focus. Simply tap the search bar in the Discover tab, choose Soundscapes from the Category dropdown, and browse through the available tracks. You can also try the Sleep Stories category for an alternative to white noise. Free content will have a play button, while locked content can be accessed with a paid subscription. Calm Premium costs $4.99 per month and comes with a 7-day free trial.

Motorsport

Lamborghini Countach From Wolf Of Wall Street Heads To Auction

The white 25th Anniversary Lamborghini Countach, which became iconic in the movie The Wolf of Wall Street, is going up for auction at RM Sotheby’s Luxury Week Auction. This particular car, one of the two used in the film, remained undamaged unlike its tragic counterpart. It is expected to fetch a value of at least two million dollars.

Lamborghini produced about 650 units of the 25th Anniversary Countach, out of which only 23 were finished in Bianco Polo, the same color as the car seen in the movie. The styling updates for this anniversary edition were done by Horacio Pagani, who went on to establish Pagani Automobili. These updates included revised front and rear bumpers and air intakes behind the doors. While there were mixed opinions about the design, with some critics claiming similarities to the Ferrari Testarossa, no one could deny its exceptional performance. In fact, it is considered to be the fastest version of the original Countach, reaching 60 miles per hour in just 4.7 seconds with a top speed of 183 mph.


NewsNew

RIDE SHOP AZ GASGAS 380CC TWO-STROKE PROJECT RAW VIDEO

The White Knight, a 2023 GASGAS 380cc two-stroke build, was created by The Ride Shop AZ and Johnny Wiseman. It serves as a rival to the Dark Knight Projexct, which was built by The Ride Shop AZ several years ago. The engine of the White Knight is completely white, the fork tubes are red, and the entire build was done by an ex-factory mechanic who worked for Destry Abbott at one point. In this video, we delve into the details of the build, share our experience riding it on the track, and let you listen to the powerful sound of this 380cc two-stroke at Glen Helen Raceway in Southern California.

In addition to the video where we break down the bike and provide detailed information, we wanted to give our dedicated viewers the opportunity to see it in its raw form. This video is stripped of talking, extra information, and focuses purely on the raw enjoyment of a 2-stroke engine.