Lordstown Motors delivers the first batch of Endurance pickups, but it's not exactly rushing to build a lot more.
. The company said the pickups have achieved certification from the EPA and California Air Resources Board, opening the door to commercial sales, with the first of the initial batch of 500 trucks headed to customers.inked an operating agreement with Lordstown to run the Ohio factory, formerly a General Motors assembly plant, providing the much needed cash to get the truck the last few steps into production while also establishing its own EV manufacturing footprint stateside.
Production of the Endurance has certainly begun, but it now faces competition from large, established automakers.That's no small asterisk, and it puts the spotlight back on Lordstown's finances as it seeks more capital and more buyers for the truck."We will continue to build at a slow rate as we address remaining part pedigree and part availability issues. We expect to increase the speed of production into November and December," Hightower said earlier this fall.
Earlier in November Foxconn made an additional investment of up to $170 million, gaining more share of the company in the process, including all of its preferred stock as well as 18.3% of its common stock.This infusion of cash is expected to keep Endurance production running for a few more months, but Lordstown says it is looking for"one or two OEM partners to help scale the Endurance." The investment will also be used to fund the design and development of a new EV along with Foxconn.
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