News
Lordstown Motors wants to join the electric pickup truck market too
Ohio-based Lordstown Motors unveiled its plans to join the growing electric pickup truck market with its first vehicle, dubbed “Endurance.”
The one-year-old startup based out of Lordstown, Ohio, will take over a former General Motors plant to build its first electric truck. CEO Steve Burns believes the Endurance has all the ingredients for success after the company has spent its time and money developing an all-electric truck that is capable of sports car-like acceleration and handling.
During the company’s presentation in Thursday, Burns talked about Lordstown’s process of designing the vehicle from the ground up, and not using a typical pickup engineering process to ensure the performance and efficiency of the truck was superior to its competitors.
“People are buried in their Ford [F]150. They have so much loyalty to it,” Burns said. “But, we are essentially coming in with a 75-mile per gallon pick up truck. In the end, cost is king, and we are the least expensive pickup truck.”
The Endurance has arrived. #RideWithLordstown pic.twitter.com/iQxzMZ5iHg
— Lordstown Motors (@LordstownMotors) June 25, 2020
The Endurance packs a self-proclaimed “revolutionary design” that features four in-wheel hub motors, making it the first-ever commercial vehicle to contain this specification. The use of the four motors independently driving each wheel gives the Endurance only four moving parts on the entire car, allowing the owner to spend less on maintenance and a “significantly lower total cost of ownership than traditional commercial vehicles.”
While functionality was essential to Burns, its aesthetic appearance was almost as crucial. “If the vehicle didn’t look good, it probably wouldn’t sell well. So we had to balance all of that in the design of it. It took a great team to do that.”
Lordstown says the Endurance will cost $52,500 and will give owners 250 miles of EV range, 600 horsepower, 7,500 pounds of towing capacity, and an 80 MPH top speed. The company didn’t provide any insight into its battery pack, its capacity, or where it will receive batteries from. However, GM and LG Chem are building a $2.3 billion joint venture battery cell plant in Lordstown, but it is unknown if this facility will supply the electric startup with packs for the Endurance.
As of right now, no electric truck is currently being manufactured or produced. However, 2021 seems to be heading toward a label of “The Year of the Electric Pickup.” With Rivian planning to build its R1T at the beginning of the year, the Tesla Cybertruck beginning production in a new facility at the tail end of the year, and Lordstown’s Endurance with a planned rollout in 2021 as well, there is plenty of competition in the sector.
Currently, gas-powered trucks are among the most popular vehicles in the United States. The Ford F-150 reigns supreme, just like it has for many years. However, with the electric vehicle movement continuing to grow and more consumers heading toward sustainable transportation, there is plenty of evidence to suggest that an array of competition in the E-pickup market will help the environmental cause.
Elon Musk
Delaware Supreme Court reinstates Elon Musk’s 2018 Tesla CEO pay package
The unanimous decision criticized the prior total rescission as “improper and inequitable,” arguing that it left Musk uncompensated for six years of transformative leadership at Tesla.
The Delaware Supreme Court has overturned a lower court ruling, reinstating Elon Musk’s 2018 compensation package originally valued at $56 billion but now worth approximately $139 billion due to Tesla’s soaring stock price.
The unanimous decision criticized the prior total rescission as “improper and inequitable,” arguing that it left Musk uncompensated for six years of transformative leadership at Tesla. Musk quickly celebrated the outcome on X, stating that he felt “vindicated.” He also shared his gratitude to TSLA shareholders.
Delaware Supreme Court makes a decision
In a 49-page ruling Friday, the Delaware Supreme Court reversed Chancellor Kathaleen McCormick’s 2024 decision that voided the 2018 package over alleged board conflicts and inadequate shareholder disclosures. The high court acknowledged varying views on liability but agreed rescission was excessive, stating it “leaves Musk uncompensated for his time and efforts over a period of six years.”
The 2018 plan granted Musk options on about 304 million shares upon hitting aggressive milestones, all of which were achieved ahead of time. Shareholders overwhelmingly approved it initially in 2018 and ratified it once again in 2024 after the Delaware lower court struck it down. The case against Musk’s 2018 pay package was filed by plaintiff Richard Tornetta, who held just nine shares when the compensation plan was approved.
A hard-fought victory
As noted in a Reuters report, Tesla’s win avoids a potential $26 billion earnings hit from replacing the award at current prices. Tesla, now Texas-incorporated, had hedged with interim plans, including a November 2025 shareholder-approved package potentially worth $878 billion tied to Robotaxi and Optimus goals and other extremely aggressive operational milestones.
The saga surrounding Elon Musk’s 2018 pay package ultimately damaged Delaware’s corporate appeal, prompting a number of high-profile firms, such as Dropbox, Roblox, Trade Desk, and Coinbase, to follow Tesla’s exodus out of the state. What added more fuel to the issue was the fact that Tornetta’s legal team, following the lower court’s 2024 decision, demanded a fee request of more than $5.1 billion worth of TSLA stock, which was equal to an hourly rate of over $200,000.
Delaware Supreme Court Elon Musk 2018 Pay Package by Simon Alvarez
News
Tesla Cybercab tests are going on overdrive with production-ready units
Tesla is ramping its real-world tests of the Cybercab, with multiple sightings of the vehicle being reported across social media this week.
Tesla is ramping its real-world tests of the Cybercab, with multiple sightings of the autonomous two-seater being reported across social media this week. Based on videos of the vehicle that have been shared online, it appears that Cybercab tests are underway across multiple states.
Recent Cybercab sightings
Reports of Cybercab tests have ramped this week, with a vehicle that looked like a production-ready prototype being spotted at Apple’s Visitor Center in California. The vehicle in this sighting was interesting as it was equipped with a steering wheel. The vehicle also featured some changes to the design of its brake lights.
The Cybercab was also filmed testing at the Fremont factory’s test track, which also seemed to involve a vehicle that looked production-ready. This also seemed to be the case for a Cybercab that was spotted in Austin, Texas, which happened to be undergoing real-world tests. Overall, these sightings suggest that Cybercab testing is fully underway, and the vehicle is really moving towards production.
Production design all but finalized?
Recently, a near-production-ready Cybercab was showcased at Tesla’s Santana Row showroom in San Jose. The vehicle was equipped with frameless windows, dual windshield wipers, powered butterfly door struts, an extended front splitter, an updated lightbar, new wheel covers, and a license plate bracket. Interior updates include redesigned dash/door panels, refined seats with center cupholders, updated carpet, and what appeared to be improved legroom.
There seems to be a pretty good chance that the Cybercab’s design has been all but finalized, at least considering Elon Musk’s comments at the 2025 Annual Shareholder Meeting. During the event, Musk confirmed that the vehicle will enter production around April 2026, and its production targets will be quite ambitious.
News
Tesla gets a win in Sweden as union withdraws potentially “illegal” blockade
As per recent reports, the Vision union’s planned anti-Tesla action might have been illegal.
Swedish union Vision has withdrawn its sympathy blockade against Tesla’s planned service center and showroom in Kalmar. As per recent reports, the Vision union’s planned anti-Tesla action might have been illegal.
Vision’s decision to pull the blockade
Vision announced the blockade in early December, stating that it was targeting the administrative handling of Tesla’s facility permits in Kalmar municipality. The sympathy measure was expected to start Monday, but was formally withdrawn via documents sent to the Mediation Institute and Kalmar Municipality last week.
As noted in a Daggers Arbete report, plans for the strike were ultimately pulled after employer group SKR highlighted potential illegality under the Public Employment Act. Vision stressed its continued backing for the Swedish labor model, though Deputy negotiation manager Oskar Pettersson explained that the Vision union and IF Metall made the decision to cancel the planned strike together.
“We will not continue to challenge the regulations,” Petterson said. “The objection was of a technical nature. We made the assessment together with IF Metall that we were not in a position to challenge the legal assessment of whether we could take this particular action against Tesla. Therefore, we chose to revoke the notice itself.”
The SKR’s warning
Petterson also stated that SKR’s technical objection to the Vision union’s planned anti-Tesla strike framed the protest as an unauthorized act. “It was a legal assessment of the situation. Both for us and for IF Metall, it is important to be clear that we stand for the Swedish model. But we should not continue to challenge the regulations and risk getting judgments that lead nowhere in the application of the regulations,” he said.
Vision ultimately canceled its planned blockade against Tesla on December 9. With Vision’s withdrawal, few obstacles remain for Tesla’s long-planned Kalmar site. A foreign electrical firm completed work this fall, and Tesla’s Careers page currently lists a full-time service manager position based there, signaling an imminent opening.
Delaware Supreme Court reinstates Elon Musk’s 2018 Tesla CEO pay package
Tesla Cybercab tests are going on overdrive with production-ready units
