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