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Is Lordstown Motors for real? Ohio is betting big on the electric truck startup (fraudulent?)
Cleveland.com ^ | 3-24-21 | Andrew J. Tobias,

Posted on 03/24/2021 12:41:43 PM PDT by dynachrome

Ohio has a lot riding on the success of Lordstown Motors.

Last year, Gov. Mike DeWine declared the electric vehicle startup “the future” while visiting the plant, the site of a shuttered General Motors assembly plant near Youngstown, about six months before state officials approved it for $20 million in tax credits.

Secretary of State Frank LaRose last week was the latest in a procession of state officials who, after touring the plant, lauded the company’s promise for the economically beleaguered Youngstown area. JobsOhio, the state’s private economic-development arm, has pledged $4.5 million in grants to the company.

Former President Donald Trump even touted the company’s Endurance electric pickup truck prototype at an event at the White House last year in the heat of the presidential campaign.

But as Lordstown Motors has been gearing up to produce its first vehicles by September, the politicized company has faced mounting questions about its viability. Its stock plunged on March 12 after a prominent investment firm betting against the company’s success released a scathing research report that said the company had “misled investors both on its demand and production capabilities.” That quickly led to an inquiry from the U.S. Securities and Exchange Commission followed by a shareholder lawsuit.

(Excerpt) Read more at cleveland.com ...


TOPICS: Business/Economy; News/Current Events; US: Ohio
KEYWORDS: electrictruck; lordstown; lordstownmotors; ohio; startup
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To: buckalfa

This “green energy” stuff is one incredibly expensive scam—that is why the politicians love it.


21 posted on 03/24/2021 1:18:57 PM PDT by cgbg (A kleptocracy--if they can keep it. Think of it as the Cantillon Effect in action.)
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To: dynachrome

I’m still waiting to see an Elio out in the wild.


22 posted on 03/24/2021 1:29:10 PM PDT by Disambiguator
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To: ScubaDiver

Sure looks a lot like a standard Chevy pickup.


23 posted on 03/24/2021 1:29:55 PM PDT by chrisser
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To: monkeyshine

So I used to work for a company that had among it’s customers a solar cell manufacturer with plants in Michigan and Mexico.

I began to realize the scam when I realized that even though they got solar panels for free, they didn’t use any in their own production facilities, not even for basic stuff like lights and water heating.

Then their business took a downturn when several European countries cancelled their government subsidies.

A year or so after I left my employer, I read that they went belly-up.


24 posted on 03/24/2021 1:30:46 PM PDT by cyclotic (Live your life in such a way that they hate you as much as they hated Rush Limbaugh)
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To: dynachrome

obviously not enough diversity among the ranks, executive staff and procurement channels to keep this turd afloat .


25 posted on 03/24/2021 1:33:47 PM PDT by ßuddaßudd ((>> M A G A << "What the hell kind of country is this if I can only hate a man if he's white?")
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To: chrisser

Looks a lot like the current Chevy colorado.

CC


26 posted on 03/24/2021 1:41:56 PM PDT by Celtic Conservative (My cats are more amusing than 200 channels worth of TV.)
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To: Red Badger

You made my Atlas, Shrug........

https://www.conservapedia.com/Twentieth_Century_Motor_Company


27 posted on 03/24/2021 1:41:56 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: SaveFerris

I hope I’ve passed on before the EV dystopia, when the animal Left bans the retail sale of gasoline and diesel.

Of course, Inner Party members will still blast around in the future equivalents of armored Chevy Suburbans.


28 posted on 03/24/2021 1:57:32 PM PDT by Jacquerie (ArticleVBlog.com)
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To: Jacquerie
They just keep trying to implement more and more wacky ideas.

Their minds are reprobate. Lies look like truth to them; they're convinced that their lies are "truth" and nothing will sway them.


29 posted on 03/24/2021 2:00:59 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: dynachrome

I foresee some offshore accounts getting very fat just ahead of the company declaring bankruptcy.


30 posted on 03/24/2021 2:03:54 PM PDT by Army Air Corps (Four Fried Chickens and a Coke)
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To: Red Badger

For those youngsters that don’t know about Twentieth Century:

https://en.wikipedia.org/wiki/Twentieth_Century_Motor_Car_Corporation


31 posted on 03/24/2021 2:05:40 PM PDT by Shark24 ( )
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To: dynachrome
Well I remember this:

Former President Donald Trump even touted the company’s Endurance electric pickup truck prototype at an event at the White House last year in the heat of the presidential campaign.

32 posted on 03/24/2021 2:06:07 PM PDT by spokeshave (White Confederate statue kills black man......Another month of protests.... (HT to seawolf101))
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To: dynachrome

Lectric vehicles are like solar energy. They can only do it with mass infusions of taxpayer dough.

And that breeds corruption like crotch yeast in August.


33 posted on 03/24/2021 2:08:47 PM PDT by lurk ( )
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To: ßuddaßudd
But, they tried, apparently...

" the company's Director of Powertrain, Pirakalathan Pathmanathan, said the truck started "driving weird."

34 posted on 03/24/2021 2:43:46 PM PDT by ScubaDiver (Reddit refugee.)
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To: dynachrome

fascinating, in-depth research showing that Lordstown Motors is nothing but a total fraud and scam:

https://hindenburgresearch.com/lordstown/


35 posted on 03/24/2021 4:27:22 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: cgbg

3 trillion more in green stimmie on the way.
I’ve given up on ethics, I want to grab some gravy....


36 posted on 03/24/2021 4:32:12 PM PDT by nascarnation
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To: catnipman

That looks pretty bad for any investors. I’ll bet a lot of $$ go missing.


37 posted on 03/24/2021 4:52:35 PM PDT by dynachrome ("I will not be reconstructed, and I do not give a damn.")
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To: dynachrome

No problem, not with an electric automotive expert like Terry McAulliffe at the helm...


38 posted on 03/24/2021 5:30:28 PM PDT by VanShuyten ("...that all the donkeys were dead. I know nothing as to the fate of the less valuable animals)
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To: mylife

Are you short the stock?


39 posted on 03/24/2021 10:36:59 PM PDT by Pelham (Liberate the Democrats from their Communist occupation)
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To: dynachrome

“How much taxpayer $$$ did they get?”

The article that you posted mentions $4.5 million in grants from Jobs Ohio. That compares with the $675 million it raised when it went public last fall. It’s a listed stock on the NASDAQ.


40 posted on 03/24/2021 10:52:18 PM PDT by Pelham (Liberate the Democrats from their Communist occupation)
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