The maker of an all-electric commercial pickup truck now plans to start production later this year as it aligns and draws on capital funding sources.
The departures follow financial and production challenges in a more competitive and growing market for electric pickup trucks.
A day after filing an amended 10-K that casts doubt on the electric-truck maker’s survival into 2022, the company said it has “multiple avenues to raise capital."
The release of the beta models, two of 57 to be produced, comes at a critical juncture for the upstart electric automaker.
Among other business updates, the company announced it has started its outreach to state and local government entities, including the U.S. military, to sell the Lordstown Endurance all-electric pickup.
The Bobit fleet team got a chance to climb through a test version of the all-electric pickup at Lordstown Motors’ new facility in Irvine, Calif.
Merchants Fleet has launched an innovative new vehicle electrification initiative, Electrify Fleet, which seeks to deploy new EVs in the commercial market, including through the introduction of the Lordstown Endurance all-electric commercial pickup truck for its clients.
A new partnership leverages Camping World's 170 service and collision centers across the U.S. to service the Lordstown Endurance electric pickup.
Full production will ramp up in 2022. The company is set to open a service center in Irvine, Calif. and a satellite research and development center in Farmington Hills, Mich.
Lordstown will list on NASDAQ through a merger with DiamondPeak Holdings Corp. The EV maker has received more than 27,000 pre-orders for its Endurance electric pickup, primarily from commercial fleet customers.
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