Ohio-based Lordstown Motors announced Thursday that it has begun production of “commercially marketable” Endurance electric truck models just for its fleet.
There’s a reason the company isn’t advertising it much right now with its first delivery anniversary: It hasn’t achieved all the certifications it needs.
Lordstown reports that deliveries are still “subject to full homologation testing and mandatory certification.” At the same time, the company reports that it is continuing to run tests on the vehicles and complete software updates. Applications for the EPA and CARB have been submitted and the US FMVSS crash check has been completed, it said.
Lordstown Endurance
So the company has confirmed to start selling in the fourth quarter of the year — possibly moving to any point between early October and late December.
The first models produced are the first two out of a total of only 500 salable units and it aims to deliver 50 of them by the end of 2022, the rest of which are 500 by the second half of the year. early 2023, subject to raising sufficient capital. “
Chief Executive Officer and President Edward Hightower said in a company statement. “We expect to ramp up production in November and December.”
Lordstown Motors Factory – 2020
Lordstown saved itself from bankruptcy by sell old GM plant in Ohio it belongs to Taiwan’s Hon Hai Technology Group — also known as Foxconn, a longtime contract manufacturer for Apple and other electronics companies. Foxconn will act as a contract manufacturer for Endurance, as well as other vehicles at the Ohio facility, including models for Fiskerand electric tractor. And now it is the largest investor in a joint venture with Lordstown to “develop electric vehicles for the global market”.
With that said, Lordstown appears to have pivoted away from treating the personal-use market as an eventual extension — after it provided a “National fleet” of working trucksas it said Green car report in 2020. Lordstown confirmed today that it is focused solely on the commercial vehicle market. It does not clarify the status of other production bound projects such as tram The company announced it in 2021, claiming that it will be ready for production in 2022.
Lordstown is clearly not yet free of the weeds, as it faces a tough productive stretch. It notes that it will end the quarter with about $195 million in cash and cash equivalents, falling to $110 million at year-end.
As Lordstown has previously warned, it will need additional funding to accelerate production. In today’s update, it noted that it will “continue to explore funding alternatives,” including in relation to the Foxconn joint venture, and in “discussions on strategic partnerships.” comb”.
