Lordstown Motor’s bankruptcy makes life harder on the upstart automakers still standing — but this hot glare of reality is exactly what the market needs.
As Lordstown Motors officially files for bankruptcy, the company also filed a complaint against Foxconn.
As production resumes for Lordstown Motors' electric Endurance pickups, the company announced an agreement to use Amerit Fleet Solutions' service and maintenance to its commercial fleet customers.
Homologation is a big word - and a key condition to start sales. Lordstown achieved it, plus received certifications, testing, and the first vehicles are leaving the plant.
To date, 20 vehicles from 13 manufacturers will be on display and available to drive at the 2022 Fleet Forward Conference.
It’s been a bumpy ride to get here, and the electric truck maker’s ability to scale production is still cloudy.
Edward Hightower, the electric vehicle company's current president, will become its new CEO. Hightower succeeds Daniel Ninivaggi, who moves into a strategic role as the company’s executive chairman.
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."
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