The Latest Breaking News from Lordstown

The Lordstown Endurance was quite innovative, with four in-wheel electric motors and a large battery.

Lordstown Motors Corp (OTC:RIDEQ), now Nu Ride (OTC:NRDE), burst onto the scene in 2020 promising a revolutionary electric truck and raking in over $675 million from investors. The company aggressively marketed the Endurance, its first EV truck, as a competitor to established automakers, sending the stock soaring. However, this house…

Under the Chapter 11 restructuring process, the Ohio-based EV maker is looking to sell the Endurance vehicle and related assets.

Lordstown founder and ex-CEO Stephen Burns has sold his remaining shares in the EV startup amidst its ongoing financial struggles.

Lordstown Motors, the EV startup that developed the Endurance all-electric pickup, plans to take legal action against investor Foxconn to ensure that the Taiwanese firm completes its planned purchase of nearly 10 percent of the EV maker’s shares.

With just 31 Endurance pickups assembled and ready for sale as of February 2023, and just six units delivered so far, the company is now anticipating a rapid fall.

Once attracting intense interest for its commercial EV ambitions, the lights may go out on Lordstown Motors as RIDE stock crumbles badly.

Foxconn's decision was rushed by a Nasdaq warning to Lordstown that its stock may be delisted after falling below a minimum $1 per share for 30 straight days.

Lordstown Motors had paused production in February 2023 to address supplier quality issues that caused a recall of 19 of a total of 31 units built at the time.