Camping World and Lordstown Motors Partner to Establish Nationwide EV Service Network; Announce Plans to Develop Electric Solutions for the RV Industry

Rhea-AI Summary

Lordstown Motors (RIDE) and Camping World have partnered to create a national electric vehicle service and collision network for the Lordstown Endurance, an all-electric pickup truck. This initiative, announced on December 15, 2020, will utilize Camping World's 170 service centers across the U.S. to enhance support for Lordstown Motors' fleet customers. The collaboration aims to develop new EV products for the RV market and includes plans for a charging network. Both companies highlight the potential for improved customer service and innovation in the electric vehicle sector.

Positive

• Partnership with Camping World to establish a national service network for Lordstown Endurance.
• Access to over 170 Camping World service centers for enhanced customer support.
• Exploration of new EV products for the RV market based on the Endurance platform.

Negative

• None.

LINCOLNSHIRE, Ill. and LORDSTOWN, Ohio, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Camping World Holdings, Inc. (NYSE: CWH) (“Camping World”), the nation’s largest retailer of RVs and related products and services, and Lordstown Motors Corp. (Nasdaq: RIDE) (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, have announced the formation of a relationship to create a national electric vehicle (EV) service and collision network for Lordstown Motors vehicles, beginning with the Lordstown Endurance, the world’s first full-size, all-electric pickup truck. The partnership was formally announced on Tuesday, December 15, 2020 at a joint press conference with Camping World Chairman and CEO Marcus Lemonis and Lordstown Motors CEO Steve Burns at the Lordstown Motors headquarters in Ohio.

By leveraging Camping World’s growing footprint of over 170 Service and Collision Centers across the United States, with thousands of technicians and service bays, a 24/7 tech hotline and Good Sam’s Roadside Assistance Program, Lordstown Motors customers are expected to enjoy one of the most comprehensive EV support systems ever designed.

Additionally, the two companies are exploring the development of new EV products and solutions for the RV marketplace based on the Endurance platform, including a lithium-ion battery pack for travel trailers that would replace conventional gasoline onboard generators, the first, all electric, high volume production RV (eRV) and installation of a Good Sam charging network at Camping World locations.

“The future is now, and the realization of electrifying RVs and the outdoor community is within our grasp and will only grow from here,” said Marcus Lemonis, Chairman and CEO of Camping World. “Lordstown’s recognition of the need for a national support network for service and technical support along with a fluid customer experience reinforces our confidence in this relationship.”

“Lordstown’s partnership with Camping World will help us help ensure that our fleet customers have the highest possible up-time of their vehicles,” said Lordstown Motors CEO, Steve Burns. “On top of that, working with Marcus and his team to bring EV solutions to the RV market is quite exciting, and I’m excited about the first-to-market opportunities this partnership affords us.”

Lordstown Motors is expected to lead the integration of their technology and service needs into the Camping World infrastructure, including the development of an elaborate parts network. In addition to the more than 170 Camping World service centers that are expected to be equipped to handle Lordstown Motors vehicles, Lordstown Motors is also rolling out independently owned and operated service centers in high density areas. Lordstown Motors and Camping World expect to release additional details on their plans for eRVs in the coming months.

A recording of the press conference is available here.

About Camping World
Camping World Holdings, headquartered in Lincolnshire, Illinois, is America’s leading retailer of RVs and related products and services, offering an extensive assortment of recreational vehicles for sale, RV and camping gear, RV maintenance and repair, other outdoor and active sports products, and the industry’s broadest and deepest range of services, protection plans, products and resources. Since the Company's founding in 1966, Camping World has grown to become one of the most well-known destinations for everything RV, with more than 170 locations in 38 states and a comprehensive e-commerce platform. For more information, visit www.CampingWorld.com.

About Lordstown Motors Corp.
Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of light duty fleet vehicles, founded by CEO Steve Burns with the purpose of transforming Ohio's Mahoning Valley and Lordstown, Ohio, into the epicenter of electric-vehicle manufacturing. The company owns the 785 acre, 6.2 million square foot Lordstown Assembly Plant where it plans to build the Lordstown Endurance, believed to be the world's first full-size, all-electric pickup truck designed to serve the commercial fleet market. For additional information visit www.LordstownMotors.com.

Forward Looking Statements
This press release includes forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” expects,” “create,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology, and include statements regarding potential products, the development of EV solutions for the RV marketplace and development of infrastructure to service Lordstown Motors vehicles. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: competition in each company’s respective markets; the ability to develop infrastructure to service Lordstown Motors systems at Camping World service centers; risks related to the collaboration between Lordstown Motors and Camping World; as well as the risks described in each company’s most recent Annual Report on Form 10-K, as updated by subsequent Quarterly Reports on Form 10-Q. Any forward-looking statements speak only as of the date on which they are made, and Lordstown Motors and Camping World undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

Investor Contact:
Carter Driscoll
lordstownmotorsIR@icrinc.com

Media Contacts:

For Camping World
Karen Porter
PR-CWGS@campingworld.com

For Lordstown Motors
Ryan Hallett / Leigh Harmon
lordstownmotors@ottoandfriends.com

FAQ

What is the partnership between Lordstown Motors and Camping World about?

The partnership focuses on creating a national electric vehicle service and collision network for Lordstown Motors' vehicles, starting with the Lordstown Endurance.

When was the partnership between Lordstown Motors and Camping World announced?

The partnership was announced on December 15, 2020.

How will the partnership benefit Lordstown Motors customers?

Customers will benefit from enhanced service support through Camping World's network of service centers and the development of new EV solutions.

What is the Lordstown Endurance?

The Lordstown Endurance is the world's first full-size, all-electric pickup truck, designed primarily for the commercial fleet market.