Lordstown Motors officials went on the offensive Wednesday afternoon, aiming to dispel mounting doubts about the EV startup’s future in light of a damning research report questioning whether it has received any real orders – while suggesting its founder and CEO is a “con man.”
Lordstown officials claim they’ve received more than 100,000 non-binding production reservations from commercial fleet users. But that’s been thrown in doubt as a result of a report published last week by short-seller Hindenburg Research.
“They’re absolutely facing the fight of their life, no doubt about it,” said Sam Abuelsamid, principal automotive analyst with Guidehouse Insights. “I’ve always been dubious about the number of orders they claim considering they’ve never built a product before. They’re going to have to provide real evidence of what they actually have … and they need to demonstrate an actual product.”
Read the article at The Detroit Bureau.
Research suggests organizations that innovate through crises by focusing on generating new growth versus simply weathering the storm outperform significantly over time. But leading your organization to a successful COVID-19 exit requires making fundamental shifts in mindsets - starting at the top.
To put the organization on a new growth trajectory requires three actions:
Reallocating toward the future - place bets, backed by sufficient funds and people, on emerging profit pools while reassessing legacy decisions.
Embedding flexibility - reorganize around new, crisis-inspired ways of working.
Hacking processes - focus on outcomes rather than activities to increase speed.
Driving change of this magnitude has to be deliberate. To spearhead transformation-related initiatives and impose accountability that ensures the changes stick, organizations should create “reimagination teams” staffed with top emerging talent. Ultimately, however, it is the business leaders’ responsibility to set the course, speed, and tone of the pivot that will deliver innovation-led growth.
Read the article at McKinsey & Company.
Electric-vehicle startup Rivian announced this week that it is rolling out a North American "Adventure Network." The charging network will be for the exclusive use of owners of its upcoming R1S and R1T EVs. In structure and in planned scope, it looks similar to Tesla's Supercharger network.
Rivian promises 600 charging stations by the end of 2023 that will contain a total of more than 3500 individual 200-kW DC fast chargers—compared with the Superchargers' current maximum of 250 kW. Rivian says users can add 140 miles of range to their Rivian EVs in 20 minutes, while Tesla's Superchargers are claimed to give back up to 200 miles in 15 minutes.
The chargers are plug-and-charge automatic units, will be powered by wind and solar when possible, and can be located on road trips using the vehicle's navigation system.
Read the article at Car and Driver.
UK-based startup Arrival, which has signed a contract with UPS for 10,000 delivery vans, plans to open a second microfactory in the US, not too far from its first one in York County, South Carolina, that will produce electric buses.
Last year the startup company shared images of its toaster-shaped electric van, which will be based on a "skateboard" platform of Arrival's own design and will have a range of about 150 miles on a full charge. The vans will be aimed at last-mile delivery rather than interstate travel between UPS hubs, and will feature composite bodies.
Almost a year ago Arrival received a €100 million investment from Hyundai and Kia, which includes an agreement to develop commercial vehicles together with Arrival. The announcement of a second US microfactory coincides with the startup's plans to go public - as well as the new administration's indication it will champion the zero-emission vehicle.
Read the article at Autoweek.
SambaSafety has acquired Instructional Technologies Inc. (ITI), provider of best-in-class online driver training and technology since 1995.
The merger facilitates the ground-breaking addition of online training to the company's continuous driver monitoring solution, Qorta™, closing the safety loop for employers across industry.
"Since our launch of the first license monitoring solution for employers, SambaSafety has revolutionized how companies manage driver risk," said Allison Guidette, CEO, SambaSafety. "Today's exciting announcement positions SambaSafety to again raise the bar and provide the industry's only comprehensive platform to identify and efficiently act on driver risk with world-class online training."
Read the news at PR Newswire.