Lordstown Endurance electric truck delayed to 3rd quarter of 2022, when Foxconn buys factory
Earlier this year, Lordstown Motors of Ohio teased the idea of having the first electric pickup truck in the US market. But now, with Rivian R1T delivery happened, Ford F-150 Lightning due in May, and GMC Hummer EV In between, that window of opportunity has long since passed.
On Thursday, Lordstown confirmed a surprising plan proposed in September. With that, the company is selling its former GM factory to Taiwan’s Hon Hai Precision Industry – better known as iPhone maker Foxconn – for $230 million. And it has confirmed that its long-awaited Endurance electric pickup is now pushed back to the third quarter of 2022 for first deliveries.
Lordstown blamed the delay—one of many—On “component and material shortages, among other supply chain challenges”. The company said it has now produced about 100 units before production.
Lordstown Endurance
As part of the deal, Foxconn invested an additional $50 million in equity in Lordstown in October, and Lordstown agreed to pursue a joint venture agreement with Foxconn under which Foxconn is expected to operate as a contract manufacturer for Endurance.
The companies will also jointly design and develop future commercial vehicles. But those future vehicles will Foxconn’s “Mobility in Harmony” Platform, not on a platform shared with the Endurance electric pickup.
“Working in partnership with Foxconn, we expect to be able to bring future vehicles to market faster and more efficiently,” Lordstown said Thursday, alongside its quarterly financial report. Tuesday.
Lordstown Endurance
Under its founding CEO, Steve Burns, who was fired this past June claims the order is allegedly inflated, Lordstown planned to build whole family of vehicles on the Endurance platform, include electric van will be launched in 2022, plus a midsize pickup and an “industrial” SUV – all including the hub motor at the wheel, which it brings together as a unique selling point and packing power. But on Thursday’s call after the financials were announced, the company’s new CEO, Daniel Ninivaggi, reportedly underestimated the importance of technology – something Ford was quick about. nixed for F-150 Lightning.
Foxconn did not provide a clear confirmation of what it plans to do with the rest of the Ohio plant, but Fisker CEO Henrik Fisker last month hinted that the facility could allow Foxconn to to create Fisker’s $30,000 electric car, called Project Pear. While the success of Lordstown Motors may still be uncertain, there’s still a good chance that something fun and all-electric will emerge from Lordstown, Ohio.
