Lordstown Motors Receives Letter of Intent from E Squared Energy for 14,000 Lordstown Endurance Electric Pickup Trucks

2024-11-24 06:01:12 Automotive

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Lordstown, OH, Dec 24, 2020 -- E Squared Energy, a technological company that specializes in the development of green energy resources via microgrids, has signed a letter of intent to purchase 14,000 Endurance? electric pickup trucks from Lordstown Motors Corp., a new original equipment manufacturer (OEM) in the next 3-year period beginning with Lordstown Motors first production in 2021. With today?s leading innovation at the core of both companies, the letter of intent is the latest example of how smart and sustainable technologies will continue to drive growth in Northeast Ohio?s Voltage Valley.

?Partnering with fleet customers that not only understand the specs of the truck, but also the long-term value provided to the communities being serviced, speaks to the evolution of the automotive industry and the way work is done,? said Steve Burns, Lordstown CEO. ?This Letter of Intent for the ENDURANCE positions E Squared Energy to integrate sustainable energy systems into every element of their business structure.?

E Squared is launching a 100% renewable microgrid technology that offers both resiliency and reliability from the grid with the ability to provide clean and reliable green eMobility power via Lordstown Motors and their ENDURANCE EV 4WD Pickups. E Squared Energy and their no upfront Capex business model will enable both public and private sector fleets to enjoy the advantages of low costs of operation and enable them to meet their fleet sustainability goals.

"We're extremely pleased to partner with Lordstown Motors and their ENDURANCE line of EV fleet vehicles to offer a complete eMobility Transportation solution that is clean, 100% renewable, and that will be accessible to municipalities and the private sector across North America," says Tim Grosse, CEO of E Squared Energy. "This is exactly the type of strategic partnership needed to transition into a clean, non-polluting EV transportation system of the future in a way that provides affordable fleets and advanced microgrid charging stations to forward thinking organizations that wish to lower their C02 footprint while maintaining within their budget"

The Letter of Intent ensures that E Squared Energy will be among the first commercial fleet customers to begin to receive delivery of the Endurance pickup truck in early 2021 when full scale production begins.

About Lordstown Motors Corp:
Lordstown Motors Corp. (LMC) is an Ohio-based original equipment manufacturer (OEM) of light duty fleet vehicles, founded by CEO Steve Burns with the purpose of transforming Ohio?s Mahoning Valley and Lordstown, Ohio into the epicenter of electric-vehicle manufacturing. On November 7, 2019, LMC acquired the 785 acre, 6.2 million square foot GM Assembly Plant in Lordstown, Ohio from General Motors where they will build the Lordstown Endurance?, believed to be the world?s first fully-electric pickup truck.

In 2020, LMC will complete the engineering and development of the Endurance. Designed to serve the commercial pickup truck market, the Endurance will be the first production vehicle that utilizes a 4-wheel-drive hub-motor system, a design that reduces the number of moving parts. With its hub motor design, Lordstown engineers have set out to re-invent the electric vehicle.

The Endurance pickup truck is designed with features fleets want, like an onboard power export, allowing workers to run power tools at the job site without the need for a portable generator or leaving the truck running. Fleet managers benefit from less breakdowns, lower maintenance, and most importantly, lower cost. The overall benefit is an attractive Total Cost of Ownership (TCO), which translates into a significantly lower lifetime operational cost compared to traditional pickup trucks.

The Lordstown Endurance is engineered to be lightweight, with all-wheel drive and a low center of gravity, while maintaining ground clearance. Lordstown Motors has set a goal to make the Endurance pickup truck the safest, most economical, and greenest electric pickup truck ever built. The Endurance will be manufactured and assembled at the Lordstown Facility.

For additional information, visit http://www.lordstownmotors.com.

About E Squared Energy Advisors:
Led by CEO/Executive Director Mr. Tim Grosse has developed the clean, economical, and 100% renewable net-zero energy solution of the future. Implementing some of the most advanced and innovative green technologies in the world including advanced Smart Microgrids providing the world?s first completely turnkey, 100% renewable Zero-Emission Vehicle Transportation Program solution in a no-upfront cost, pay as you go model for large public and private sector light, medium, and heavy-duty fleet conversions. For additional information and to reserve the all-electric ENDURANCE 4WD trucks for your fleet contact info@esquaredenergyadvisors.com