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Monday, 16 November 2020 19:05

Lordstown Motors on Track to Begin Production of the Endurance in Sept. 2021

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Lordstown Motors Corp, a leader in electric light duty trucks focused on the commercial fleet market, announced Nov. 16 recent commercial, operational and strategic developments, as it remains on track to begin production of the Lordstown Endurance, the world’s first full-size, all-electric pickup truck, in September 2021.

With the completion of Lordstown Motors’ business combination and subsequent listing on the Nasdaq occurring after the conclusion of the third quarter of 2020, the company expects to report earnings on a normal schedule commencing with year-end results for 2020.

 

In lieu of providing a more immediate update through an earnings release or conference call, Lordstown Motors has disclosed updates related to demand indicators, production milestones, hiring and facilities, service and internal promotions.

 

“We continue to make significant progress across all fronts, and we are excited to reveal these developments with the investment community and future customers today,” said Steve Burns, CEO of Lordstown Motors.

 

Notable developments are as follows:

 

Lordstown Motors has received approximately 50,000 non-binding production reservations from commercial fleets for its Lordstown Endurance all-electric pickup truck, with an average order size of approximately 500 vehicles per fleet.

 

This figure does not capture interest the company has received from organizations that are not in position to be able to place pre-orders, such as federal, state and municipal governments, and military fleets. Deliveries of the Lordstown Endurance are expected to begin in September 2021, with full production ramping up throughout 2022.

 

Lordstown Motors is currently building and testing Alpha 2 prototypes of the Endurance, incorporating learnings from the successful Alpha 0 prototype vehicle, as the company continues to prove out its technology. Lordstown Motors is also preparing to build its Beta series prototypes beginning in early 2021 using the production lines at the Lordstown, OH, plant.

 

The company expects to produce 40 to 50 Beta prototype vehicles, which will be used for crash, engineering and validation testing. The company also expects...


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