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Thread: Lordstown to Make Trucks

  1. #11
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    Wished I woulda bought their stock today.

    Open at $.82. Close at $2.65.
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  2. #12
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    Wonder when we are going to hear what kind of EV G.M makes i'm excited to see if its as nice as Riven.
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  3. #13
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    Quote Originally Posted by H3LLON3ARTH View Post
    Wonder when we are going to hear what kind of EV G.M makes i'm excited to see if its as nice as Riven.
    You aren't the only one. GM (and Toyota) went from being leaders in the transition to electric drive to followers. This doesn't bode well for either company's long term prospects.
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  4. #14
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    I'm waiting till the end of 2020 or beginning of 2021 to make my purchase on an E.V i haven't decided if I want Tesla or wait and see what others can do.
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  5. #15
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    Quote Originally Posted by H3LLON3ARTH View Post
    I'm waiting till the end of 2020 or beginning of 2021 to make my purchase on an E.V i haven't decided if I want Tesla or wait and see what others can do.
    The Model 3 has fit and finish the fails to impress, compared to a Gen2 Cruze. I've seen/played with numerous units. From early on to ones made just a couple weeks ago. Brand new to 15k miles. They don't present themselves like you'd expect a $45-55k car would. The doors are too light, the windows rattle and clang around when you close the doors. The plastic is no better than a Cruze or Malibu.

    I have a problem with them building every car with all the hardware installed and options are just activated via software , while easier to build, it's a waste of resources. Same goes for the range/batteries. Dont use an XXX sized battery in every car if you're going to limit range to XX or X based on the price of the car.

    You don't build every Camaro with a supercharged 6.2L and just turn the timing and boost down and stick it in V4mode on the cheap ones....You don't build every boat/RV/truck with the largest possible fuel tank but then restrict the amount of fuel it holds.(yes I'm full aware that's actually inversely analogous to what GM did on the gen1 ECOs....Which was also stupid. LOL)
    Last edited by Ma v e n; 05-11-2019 at 01:05 PM.
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  6. #16
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    An update on the story, however when a U.S. President gets involved on this type of speculation its just not right? Part of his career was as a Stock Trader, pumping up companies, investing in them and then cashing out when the 'hype' fell through, its true. Anyway here's the latest at Lordstown

    Potential sale of shuttered GM plant clouded with doubt



    FILE - In this Dec. 5, 2018 file photo, hundreds of Chevrolet Cruze cars sit in a parking lot at General Motors' assembly plant in Lordstown, Ohio. A potential deal to sell the shuttered General Motors plant is still leaving the factory with an uncertain future. In May 2019, GM confirmed that it’s negotiating the sale of the massive assembly plant. (Andrew Rush/Pittsburgh Post-Gazette via AP, File)The fate of a shuttered General Motors plant in Ohio remains very much up in the air even after a tweet from President Donald Trump heralded the potential sale of a factory he has shown an intense interest in saving.
    That's because the buyer is a fledgling electric vehicle maker that has never posted a profit, has only about 100 employees and warned this year that it might not have enough money to stay in business.
    What the potential deal does signal is the likely end of a half-century of car manufacturing for GM at its factory near Youngstown and continued uncertainty for a battered Rust Belt community that has seen plenty of empty promises.
    GM confirmed this past week that it's negotiating the sale of its massive assembly plant in Lordstown, where production ended in March as part of a major restructuring for the automaker.
    Cincinnati-based Workhorse Group intends to make a commercial electric pickup truck at the facility. Its only production plant is in Union City, Indiana, where it has built about 400 delivery trucks.
    It has started supplying UPS with electric vehicles and is one of five companies competing to land a $6 billion contract to make a new generation of mail trucks for the U.S. Postal Service.
    But there are major questions about its financial footing.
    Workhorse has poured most of its money into research and development, with limited sales, losing $36.5 million last year. It warned in its most recent quarterly filing that it didn't have enough money to pay for its operations through the first half of this year and needed additional financing to stay afloat.
    But the publicly traded company, whose stock soared after Trump's tweet , also said it believes it can raise enough money to keep going.
    Still, it doesn't yet appear to have backing like one of its competitors, Rivian, which just got a $500 million investment from Ford to develop a new electric vehicle.
    The plan Workhorse laid out this week is for it to be a minority investor in a new entity that would own the Lordstown plant. No other investors have been announced, and it's still looking for partners.
    GM spokesman Jim Cain said it was too early to tell whether the automaker would be one of them. GM sees the startup as a way to preserve the Lordstown plant and thinks Workhorse has the technology and a product to build there, Cain said.
    Tesla Inc. and other startup companies were small businesses at one time, he pointed out.
    If Workhorse does begin production there, it would likely start out with a few hundred workers, far less than the 4,500 people GM employed just two years ago before it began cutting shifts.
    Democratic Rep. Tim Ryan, whose district includes the plant, said a sale won't help GM workers in the area who would need to transfer if they want to keep their pension and benefits with the automaker.
    Any long-term job growth for the region would be years away, he said, but "it's better than the plant being empty."
    Trump has repeatedly called on GM to find another owner or reopen the plant, which is in an area of the state that will be important to him in the 2020 election and where he has promised a revival of manufacturing jobs.
    Some GM workers in Lordstown who have been holding out hope the automaker would reopen the factory with a new vehicle to build there were skeptical about the new plans.
    Since the area's steel mills began closing in the 1970s, investors have come into the Mahoning Valley pledging to build factories that would make blimps, commuter airplanes and a new version of the Studebaker, said Tim O'Hara, who worked at the Lordstown plant for 41 years.
    "Nothing ever came of it," he said. "We've been through this in the valley. We've had these false promises. We're kind of used to it, at least we should be."
    O'Hara, who is vice president of the United Auto Workers local at the plant, noted that any sale still needs to be negotiated during upcoming contract talks with the union, which still wants GM to stay and keep the plant open.
    "We're telling our members to hope for the best, prepare for the worst," he said.
    Republican Gov. Mike DeWine, who has called for GM to sell the plant if it doesn't intend to keep it running, said it was too early to celebrate because many details must still be worked out.
    "If things are not in place for this to happen," the governor said, "this would be very cruel to the workers and the people in Lordstown and the Mahoning Valley."


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  7. #17
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    Also of note, the UAW still has a lawsuit in process against GM claiming contractual obligations were not met.
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  8. #18
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    [QUOTE=ChevyGuy;3237647]I'm curious about the part with GM spending $700M. That's leaving me scratching my head. /QUOTE]

    Most of that $700 million is going into the Toledo Power Train plant to add an additional 10 speed transmission production line. There are quite a few former Lordstown employees working in the Toledo plant now. One even commutes from the Lordstown area on a weekly basis.
    Last edited by Jim Frye; 05-12-2019 at 01:27 PM. Reason: added blather
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  9. #19
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    Quote Originally Posted by obermd View Post
    You aren't the only one. GM (and Toyota) went from being leaders in the transition to electric drive to followers. This doesn't bode well for either company's long term prospects.
    Wondering about Ford also. Our parish priest and my nearby neighbor are both leasing CMaxs and are very pleased with them. My neighbor is getting a documented 95 mpg city and is dismayed that he won't be able to lease another one. No, he's not considering a buyout due to the cost of battery replacement at this time. My Son works for Dana in pre-production design and testing and they are very ramped up for EV truck axle design. Can't say anything about Workforce though.
    FWIW, my neighbor and I both own electric riding lawn mowers and are getting really good performance from them. Electrical costs for me are between $0.06 and $0.12 per mowing depending on how tall the grass is. More in the spring, less in the fall. The SLA/AGM batteries in mine are expected to last at least 10 years with a current replacement cost of under $600.
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