Sadly, electric truck maker Lordstown Motors’ bumpy and colorful ride appears to have come to an end. The company has filed for Chapter 11 bankruptcy protection, and is suing business partner Foxconn for allegedly reneging on an investment deal. Lordstown said it will try to sell its assets, and reduce its 243-person staff to a… Read more »
Search Results Found For: "Lordstown"
Monarch electric tractors roll off Foxconn assembly lines in Lordstown
The humble Ohio community of Lordstown has played a dynamic role in EV history. The first act of the drama was a typical Rust Belt tragedy—shuttered auto plant, lost jobs. The second was a heart-warming resurrection story—plucky startup builds innovative electric pickup. Next came a tawdry tale of a missed opportunity to electrify postal delivery… Read more »
Foxconn to invest up to $170 million in Lordstown Motors to develop a new EV
Foxconn Ventures has agreed to invest up to $170 million in Lordstown Motors in exchange for all of Lordstown’s outstanding preferred stock and 18.3% of its common stock. Lordstown will use the proceeds to fund the development of a new EV program in collaboration with Foxconn, dubbed the “EV Program.” (Let’s hope they come up… Read more »
What’s going on with Lordstown, Fisker and Foxconn?
Lordstown Motors already has a colorful history, beginning with a heartwarming tale of a shuttered factory retooled to build electric trucks. Sister company Workhorse was at the center of a tragedy in which a plan for the US Postal Service to electrify its ancient fleet of delivery vehicles fell apart. Last October, the company rode… Read more »
Lordstown announces battery supplier for Endurance pickup, plans to produce electric van in 2022
Lordstown Motors has released an update on its business plans that includes several bits of news. The Ohio-based EV builder confirmed that it has signed a multi-year battery supply agreement with LG Chem for the Endurance. The upcoming electric pickup will use 2170 cylindrical cells like the ones used in Tesla’s Model 3 and Model… Read more »
Lordstown Motors claims 50,000 pre-orders for electric pickup, opens two new facilities
Lordstown Motors says it has logged 50,000 preorders for its Endurance electric pickup truck. The company, which is concentrating on fleet customers, said the average order size is 500 vehicles. The 50,000 figure “does not capture interest the company has received from organizations that are not in position to be able to place pre-orders, such… Read more »
Lordstown finalizes SPAC deal, starts trading on NASDAQ
Lordstown Motors has completed its business combination with DiamondPeak Holdings, a special purpose acquisition company (SPAC). For those of you who haven’t been following the EV “stock market frenzy,” a merger with a SPAC is the currently fashionable way for a startup company to go public—it’s quicker and involves less paperwork than the traditional IPO…. Read more »
Momentum Fleet Management orders 900 Lordstown Endurance electric pickup trucks
Lordstown Motors aims to transform its Northeast Ohio home into Voltage Valley, a center of modern EV manufacturing. Now the company has secured an order for 900 Endurance electric pickup trucks from Ohio-based fleet management specialist Momentum Groups. Momentum specializes in corporate vehicles, from ordering to disposal, including purchase or lease financing options, fuel cards,… Read more »
Lordstown announces exclusive licensing agreement with Elaphe for in-wheel hub motors
Lordstown Motors has announced an exclusive licensing agreement with Elaphe Propulsion Technologies. Elaphe will develop the in-wheel motor that will be used in Lordstown’s upcoming Endurance pickup truck—the motors will be built by Lordstown employees at the company’s Ohio headquarters. Initial setup of the 20,000-square-foot production line has already begun. Lordstown will begin using the… Read more »
Retooling a shuttered factory to build electric trucks: Q&A with Lordstown Motors CEO Steve Burns
Will Ohio’s Voltage Valley energize a new era for the US auto industry? Big things are happening in the Mahoning Valley area of northeastern Ohio. The region, which centers on the city of Youngstown, was a booming center of steel production until the 1970s. Since then, like many other industrial hubs, the area has suffered… Read more »