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To keep this all in perspective:

Workhorse has the W-15 pickup technology which it has just ceded to Lordstown Motors in return for part ownership of Lordstown.

I am hoping to learn more tomorrow whether Lordstown Motors is actually a GM side venture?

But this article from today in the WSJ makes me wonder.

We are talking competition in the pickup truck market from:


Hence, I can sort of see why Workhorse sold the technology of their pickup for a piece of the action by Lordstown, while keeping their NextGen step vans in-house and constructing them in Indiana (I believe it was), while perhaps readying to sell their helicopter tech to an outside firm, and keeping their drones in house too.

At least that's the way it sounds after reading the CC transcripts again.

That said, I can't imagine an upstart such as Workhorse even thinking they could take on Ford, GM or Dodge, much less Rivian, Tesla or Bollinger, all six of who have much deeper financing than Workhorse.

So, new managment sold the tech for pickups. Looks like they might do the same for helicopters. But will keep the NextGen stepvans and HorseFly drones for what the CEO calls "last mile delivery." Seems like a decent, more realistic, plan to me.

By the way, I mentioned on the TSLA board today I know two men who are taking delivery of their new Porsche Taycans today, Day 1 of the Porsche Taycan release in the USA. One of those guys has 3 Rivian pickups on order for his coffee and cocoa plantations in Hawaii.

Rivian begins delivery late next year, 2020.

Workhorse's 1100 orders begin shipping Q4 of this year.

This is going to get interesting end of this year.

Rivian revealed a pickup prototype last November with a starting price of $69,000 that will deliver a single-charge range of at least 230 miles. The company has since received funding from both Amazon and Ford, and expects to start deliveries late next year. Bollinger, which is making a sport-utility vehicle as well as a pickup truck, hopes to start production in the second half of 2020, and is targeting a range of at least 200 miles. It will give further details, such as price, when it unveils prototypes next month.

Rivian is targeting its product squarely at the leisure market—the kind of consumers who might buy a pickup for weekend trips away rather than huge loads—and the Bollinger also seems likely to be a specialist product. If Tesla takes a similar approach, Detroit can relax a bit, but Mr. Musk doesn’t have a record of settling for niche.

However technologically fanciful it turns out to be, Tesla’s truck project will likely keep pressure on the Detroit Three to invest billions of dollars in electrifying their pickups. This is a fight that will only get more expensive for investors in the years ahead.
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