Lordstown Motors announced that FirstEnergy, one of the nation’s largest electric utilities serving more than 6 million customers, has signed a letter of intent to purchase 250 Endurance electric pickup trucks.
The LOI is a non-binding agreement, but quite significant and should be handy for an EV startup.
"The letter of intent from the Akron, Ohio-based company is the latest example of local businesses coming together to energize Northeast Ohio’s Voltage Valley, reinforcing LMC’s commitment to the community and signaling the company’s desired impact."
"As a forward-thinking electric utility, FirstEnergy intends to deploy electric-powered Endurance pickup trucks to perform the work required to provide safe, reliable electric service to its customers. The pickup trucks will complement its existing fleet and advance the company’s core values of innovation, performance and social responsibility."
Lordstown Motors promises that Endurance will offer an attractive Total Cost of Ownership (TCO), which is one of the most important things for fleets. Only time will tell whether Lordstown will really keep its promise.
"Fleet managers benefit with less breakdowns, lower maintenance, and most importantly, less 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."
Steve Burns, Lordstown Motors Corp. CEO said:
“Over the past couple of months, we have worked to better understand the needs of local residents and businesses. The ultimate goal is to continue to prioritize relationships, like the one we’ve developed with our partners at FirstEnergy, which drive innovative developments for this community.”
Dennis M. Chack, Senior Vice President of Product Development, Sales & Marketing at FirstEnergy said:
“We remain committed to embracing new ideas and opportunities that better serve our customers and contribute to a sustainable energy future. We’re proud to partner with Lordstown Motors to enhance our operating fleet and support continued electric vehicle growth throughout our service area.”