Lordstown Motors closes sale of plant to Foxconn for $230M in much needed cash

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Back in an unassuming corner near the exit of the ACT Expo at the Long Beach convention center sits a black Lordstown Motors Endurance pickup. As at least two ACT attendees asked questions about the prototype, its manufacturers were publicly announcing the official sale of its assembly plant. Lordstown Motors has officially closed its deal with Foxconn, who will now build the former’s Endurance pickup under a new joint venture (JV) and manufacturing contract.

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Eskuta SX-250 is the e-bike that’s ‘built like a motorcycle’ with the cost savings of a bicycle

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The UK-based micromobility company Eskuta says that its SX-250 electric bike combines motorcycle design with e-bike pricing to offer two-wheeled commuters the best of both worlds.

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Tesla Model 3 becomes a 6-ton electric tank with giant chain tracks

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A bunch of maniacs decided to turn a Tesla Model 3 into a tank with some giant chain tracks – resulting in a 6-ton electric off-roading machine.

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Ford hints at bringing LFP batteries to Mustang Mach-E and F-150 Lightning

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Ford is working on bringing iron-phosphate (LFP) batteries its first-generation electric vehicles, like the Mustang Mach-E and F-150 Lightning. It would help alleviate battery cell supply concerns as the automaker ramps up its EV production.

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Renewables will break another global record in 2022 despite supply chain problems – IEA

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New capacity for generating electricity from renewables such as solar, wind, and other clean energy increased to a record level worldwide in 2021. And clean energy will continue to grow in 2022, according to the Paris-based International Energy Agency (IEA).

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Microlino launches Pioneer Series, a limited run of its ultra-sleek, not-a-car electric microcar

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Microlino has just unveiled its Pioneer Series, a limited edition of 999 electric vehicles to be produced on its Turin, Italy, assembly line and destined for its earliest backers.

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This quiet electric motorcycle is helping Ukrainian snipers fight back against the Russians

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Electric bikes and motorcycles have been seeing increased military use for several years. So it should come as no surprise that Ukrainian forces have found them to be an effective tactical vehicle to fight back against Russian aggression.

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DHL orders large fleet of electric trucks from Volvo

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DHL, the logistics giant, announced a deal with Volvo Trucks to cooperate on accelerating the electrification of its operations – starting with ordering a large fleet of electric trucks.

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NYC wants to take 25% of its street space away from cars in favor of a walkable/bikeable city

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Back when COVID-19 ravaged New York City and turned the city’s transportation needs upside down, significant portions of the road space were repurposed for non-car use. From bike lanes to public seating and urban parks, roads that previously saw gridlocked traffic were nearly instantly transformed into public spaces that benefitted a wider group of residents.

After being forced to realize the benefits of such repurposing of streets, the city is now asking, “Why shouldn’t it just stay that way?”

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Rivian (RIVN) Q1 2022 results – $1.5b loss, 10k new orders, reaffirms 25k production guidance

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Rivian has posted its Q1 2022 results and shareholder letter after market close today, showing $95 million in revenue and a loss of $1.593 billion for the quarter ($1.77 per share), up from a loss of $414 million from the same quarter last year. It ended the quarter with nearly $17 billion in cash, largely from its massive IPO late last year.

Rivian also reaffirmed 2022 annual guidance, expecting a total loss of $4.7 billion for the year with 25,000 units of total production and $2.6 billion expected in capital expenditures. While RIVN dropped 9.6% during trading hours today, the market has responded positively after market close, with the stock recovering by 5.5% in after hours trading.

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