Forward-looking statements are statements that are not historical facts. These statements may be identified by words such as 'feel,' 'believes,' 'expects,' 'estimates,' 'projects,' 'intends,' 'should,' 'is to be,' or the negative of such terms, or other comparable terminology. Private Securities Litigation Reform Act of 1995. These statements are made under the 'safe harbor' provisions of the U.S. This press release includes forward-looking statements. For additional information visit Forward Looking Statements Lordstown Motors has engineering, research and development facilities in Farmington Hills, Michigan and Irvine, California. Lordstown Motors is an electric vehicle (EV) OEM developing innovative light duty commercial fleet vehicles, with the Endurance all electric pickup truck as its first vehicle and being launched in the Foxconn EV plant in Lordstown, Ohio. We look forward to the judges’ announcement of the winner in January. We are also excited to have advanced as a finalist in the North American Truck of the Year competition.

It optimizes key attributes of traction and maneuverability - with our in-wheel hub motors, safety - with our five-star crash performance, and value in the segment,” said Edward Hightower, Lordstown CEO and President. The Endurance TM will provide benefits to customers that use their vehicles for work. We are very excited to start delivering vehicles to our commercial fleet customers. “I am very proud of the Lordstown Motors and Foxconn EV Ohio team for their hard work, grit, and tenacity in achieving this milestone. As disclosed earlier, production volume will ramp slowly and accelerate as we resolve supply chain constraints. The first units, of our initial batch of 500, are leaving the Foxconn EV Ohio plant for customer delivery. These were the key conditions to start customer sales. Certification has been received from both the EPA and CARB. Lordstown Motors is pleased to announce that our Endurance TM full-size battery electric pickup truck has achieved full homologation. Endurance TM advanced to finalist in the North American Truck of the Year competition.First customer vehicles leaving the Foxconn EV Ohio plant for delivery.FMVSS crash and non-crash testing successfully completed.EPA and CARB certification has been received.Lordstown Endurance TM full-size battery-electric pickup truck has achieved full homologation, a key condition to start sales.(Nasdaq: RIDE), (“Lordstown Motors” or the “Company”), an original equipment manufacturer (“OEM”) of electric light duty vehicles focused on the commercial fleet market, today announced: 29, 2022 (GLOBE NEWSWIRE) - Lordstown Motors Corp. It has been plagued by management, production and execution issues.Īutomakers routinely have issues and recalls associated with vehicles but problems with EVs, specifically batteries, are of particular concern and interest, as the automakers invest billions of dollars in the vehicles.LORDSTOWN, Ohio, Nov. The recall and production problems add to a long list of issues at Lordstown since the company went public nearly 2½ years ago. The company plans to provide a more detailed update on the status of these issues on its upcoming earnings call on March 6. The company declined to forecast how long production will be idled at the Ohio plant, which Lordstown purchased from General Motors in 2019. 'While our experienced team has made significant progress in addressing the underlying component and vehicle sub-system issues affecting the Endurance build schedule, we remain committed to doing the right thing by our customers and to resolve potential issues before resuming production and customer shipments,' said Lordstown CEO Edward Hightower said in a release. Robar confirmed the problems have not resulted in any fires, like a battery issue earlier this month with an electric Ford F-150 Lightning pickup.

3, the company had produced 31 vehicles for sale and delivered six of those to customers, Lordstown said in a regulatory filing last month. She declined to disclose how many vehicles in total the company has produced and delivered to customers since production started in September.Īs of Jan. It's a far cry from the stock's all-time high of $31.80 a share in September 2020.Ĭolleen Robar, a spokeswoman for Lordstown, said the company is unaware of any injuries associated with the recalled vehicles. Shares of Lordstown, which went public via a special purpose acquisition company in 2020, fell 11% to $1.09 on Thursday. The automaker also will voluntarily recall 19 Endurance pickups to address a 'specific electrical connection issue that could result in a loss of propulsion while driving.' Lordstown said it is working with suppliers to implement a solution that the company believes will address the issue. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit

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