Electric pickup truck maker Lordstown Motors started deliveries in Q4 2022 amid some very rocky times. The EV startup was only able to deliver three copies of its Endurance, which is one of just a few electric pickup trucks available in the US today. However, it's clear the company is aware of its struggles, and now it claims it's moving forward with a new EV program.
Like just about every startup, Lordstown is bleeding money, and it's already up against a production pause. By producing several Endurance electric pickup trucks and delivering a few, it was able to prove the skeptics wrong, but scaling is where it typically gets really difficult for automotive startups.
Lordstown lives among a host of EV startups in the States, many of which most people barely heard of before they faded away as quickly as the media started covering them. A few have proven somewhat successful, including Rivian and Lucid, though there's been every indication since the beginning that even the most well-known EV startups are up against a world of adversity.
Tesla has been doing this for what seems like forever now, and it just recently got to the point that it's no longer considered by most as a struggling startup on the verge of bankruptcy. However, there are still plenty of folks who think the US EV maker won't make it over the longer term.
After losing loads of money and its top executives, Lordstown was on the brink of disaster. Fortunately, Foxconn, an electronics company out of Taiwan, helped save the electric truck maker on a number of occasions. Foxconn bought Lordstown's Ohio factory and has been helping the EV startup with numerous substantial investments.
Thus far, the help of Foxconn hasn't been enough to push Lordstown more successfully forward. The company isn't currently producing its trucks, and it's also in the midst of a voluntary recall.
In November, Lordstown claimed that 500 Endurance vehicles were heading out from its factory. Not long after, it seemed only 40 were actually ready or almost ready, and only three were delivered in 2022. Since then, the company reportedly delivered three more.
With all of that said, Lordstown insists it's working on the recall issue while Foxconn is continuing to invest and assist. The electric truck maker also claims that its next-gen platform will be the key to its future success. We'll have to wait and see how this all unfolds. Leave us your thought about Lordstown in the comment section below.
