Lordstown Motors, an EV startup based in Ohio town, doesn’t have enough money to start building trucks by the end of the year as previously promised. That revelation came in a regulatory filing on Tuesday and was first reported by the Wall Street Journal.
Lordstown had originally promised that it would start building its Endurance pickup truck, with a promised 600 hp and roughly 250 miles of range, early this year. Fleet customers were supposed to get first dibs at the trucks, and Lordstown said private customers could expect delivery by the end of the year, but by this spring it was clear production had never begun. The Endurance was unveiled last summer with then-Vice President Mike Pence in attendance.
Even without its apparently serious financial problems, Lordstown was facing new and stiff competition on the EV pickup front. Ford unveiled an EV version of its best-selling F-150 last month and claims to have raked in tens of thousands of pre-orders in the first days after the reveal.
Read the article at Car and Driver.