Lordstown Endurance Gets Final Approval For Sales Start, First Trucks Headed To Customers


It’s been a long and tough road for Lordstown Motors, but there’s light at the end of the tunnel as the company has announced the Endurance is now fully homologated and has received certification from the Environmental Protection Agency as well as the California Air Resources Board.

Thanks to these developments, sales can begin and the first customer vehicles are now leaving the Foxconn plant in Ohio for delivery. This is a huge victory for Lordstown and it means there’s another electric pickup on the market besides the GMC Hummer EV, Ford F-150 Lightning, and Rivian R1T.

In a statement, CEO Edward Hightower said “I am very proud of the Lordstown Motors and Foxconn EV Ohio team for their hard work, grit, and tenacity in achieving this milestone. We are very excited to start delivering vehicles to our commercial fleet customers.”

Also: Lordstown Begins Production Of The Endurance, Hopes To Deliver 50 Units In 2022

However, the battle for survival is far from over as the company’s third quarter earnings report painted a bleak picture. It revealed Lordstown had only built 12 trucks to date and the “first production batch of Endurances will be limited to up to 500 vehicles, because the bill of materials cost is materially higher than our anticipated selling price.” In effect, the company will be losing money on every truck they sell.

That’s not good and Lordstown has said efforts to bring costs down have been “deferred to manage the balance sheet and limit the amount of new capital needed to achieve initial production targets.” To deal with the issue, Lordstown is seeking one or two OEM partners to help scale production of the electric pickup.


Source link

What is your reaction?

In Love
Not Sure

You may also like

Comments are closed.

More in:Automotive