Lordstown Motors (RIDE) and Holman Enterprises Announce Co-Marketing Agreement and Expanded Alliance
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Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, has entered into a set of agreements with Holman Enterprises, a global automotive services organization, including a co-marketing agreement and vehicle procurement agreement with ARI, Holman’s industry-leading leasing and fleet management services division, and an upfit services agreement with Auto Truck Group, Holman Enterprises' vehicle fabrication and upfitting division. Together, Holman Enterprises and Lordstown Motors will help organizations easily integrate the Lordstown Endurance, the first all-electric commercial pickup truck, into their vocational fleet operations.
The co-marketing agreement establishes the framework to co-develop business opportunities with Lordstown customers and ARI clients, while the vehicle procurement agreement addresses terms for the order and delivery of a set number of Lordstown Endurance trucks over a three-year term. Through this partnership, ARI will provide fleet management services, including vehicle supply chain logistics and distribution capabilities for the Endurance on behalf of their respective customers. Under the upfit services agreement, Auto Truck Group, will serve as a preferred ship-thru upfit provider of the Lordstown Endurance. With support from ARI’s supply chain experts, Auto Truck Group will offer shared customers the design, manufacturing, and installation of specialized vocational equipment for a wide range of commercial applications.
“We are pleased to announce this long-developing relationship and are excited to have Holman Enterprises, a 100-year-old automotive industry icon, select Lordstown Motors as its OEM partner for its innovation and evolution into the EV pickup truck market.” said Steve Burns, CEO of Lordstown Motors.
“The EV space and the future of e-mobility has been a top strategic priority for Holman Enterprises and this partnership with Lordstown Motors is an exciting opportunity to further strengthen our automotive core competencies in this growing and important segment of the fleet and commercial vehicle industry,” said Chris Conroy, president and COO of Holman Enterprises.
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