Lordstown” Motor Corp (LMC) purchased the 785 acre GM plant in 2019, hoping to build the boxy, styleless all-electric Endurance pickups at the plant. The GM plant once employed over 13,000.
“Don’t move. Don’t sell your house,” – Trump at a 2017 Youngstown rally.
Lordstown Motors, the struggling electric truck startup, said that it has no firm orders for its vehicles, backtracking on assurances it made earlier this week that the company had enough committed buyers for its pickup truck to keep production going through 2022.
On Tuesday, a day after Lordstown’s CEO Steve Burns and CFO Julio Rodriguez resigned amid growing doubts about the business’ viability, the company’s president, Richard Schmidt, told reporters that it had enough cash on hand to get through next May, and enough binding orders to keep production going through the end of next year, according to the Associated Press.
But on Thursday, the company clarified those statements in a filing with the Securities and Exchange commission.
“We have no binding purchase orders or commitments from customers.”
Want to reserve an Endurance pickup? Just one, or a large fleet, no problemo, and best of all no deposit and no commitment.
This is another in a series of articles on the floundering Lordstown Motor Corp.