Lordstown Motors officials went on the offensive Wednesday afternoon, aiming to dispel mounting doubts about the EV startup’s future in light of a damning research report questioning whether it has received any real orders – while suggesting its founder and CEO is a “con man.”
Lordstown officials claim they’ve received more than 100,000 non-binding production reservations from commercial fleet users. But that’s been thrown in doubt as a result of a report published last week by short-seller Hindenburg Research.
“They’re absolutely facing the fight of their life, no doubt about it,” said Sam Abuelsamid, principal automotive analyst with Guidehouse Insights. “I’ve always been dubious about the number of orders they claim considering they’ve never built a product before. They’re going to have to provide real evidence of what they actually have … and they need to demonstrate an actual product.”
Read the article at The Detroit Bureau.