Lordstown Motors was on the verge of bankruptcy in June of last year. As a result, in order to mitigate the damage, the CEO and CFO resigned. Three months prior, Hindenburg Research (the same firm that exposed Nikola) published a damning report alleging that the EV automaker misled investors by exaggerating pre-orders and production capacity. As expected, its stock dropped following the publication of the report, and the Justice Department launched an investigation.
However, Foxconn, the Taiwanese manufacturer of iPhones, stepped in and purchased Lordstown’s Ohio production facility. Foxconn would manufacture electric pickups for Lordstown Motors as part of the agreement. MIH EV Design, the joint venture, will also strategically sell electric vehicles outside of North America.
Lordstown Motors appears to have turned the corner, and it is making its first electric pickup deliveries to customers.
Lordstown Motors announced in a press release that its first electric pickup truck has been approved by the California Air Resource Board (CARB) and the Environmental Protection Agency (EPA). After passing a safety test, its electric pickup known as “Endurance” was also given the thumbs up by the Federal Motor Vehicle Safety Standards (FMVSS). This means that the Endurance is now market-ready.
The automaker says it has delivered 500 Endurance electric pickups to customers and expects gradually increasing production capacity after resolving supply chain issues. According to Car and Driver, Lordstown Motors’ electric pickup starts at around $65,000, which is more than the base model of the 2023 Ford F-150 Lightning but less than a Rivian R1T. Aside from that, because they manufacture the Endurance in Ohio, customers may be eligible for a $7,500 US EV tax credit.
The Endurance has a 109-kWh battery that can travel up to 200 miles on a single charge. The all-wheel drive electric pickup is also outfitted with four hub motors capable of producing 440 hp and towing up to 8,000 pounds.
Read more; TWITTER’S BLUE VERIFIED RELAUNCH HAS BEEN PUT ON HOLD BY ELON MUSK
“It optimizes key attributes of traction and maneuverability — with our in-wheel hub motors — safety — with our five-star crash performance, and value in the segment,” said Edward Hightower, Lordstown’s CEO and President, in a press release.
