It’s an exciting day for electric truck enthusiasts, with Lordstown Motors (RIDE) announcing its Endurance EV pickup has achieved full homologation. The first batch of 500 EV pickup trucks is leaving its Ohio Foxconn facility en route for customer delivery.
Who would’ve thought we would make it to this point? After nearly running out of cash several times to produce its first electric vehicle, the Lordstown Endurance is finally about to reach eager customers.
Lordstown was one of the most exciting young EV companies with high potential in the electric truck market after going public on the NASDAQ exchange in 2020.
The initial hype caused share prices of the newly listed RIDE stock to jump over 20% during its stock market debut. However, a few mishaps have set the company back, as many wondered if the company would ever deliver a single vehicle.
After spiraling out of control, Lordstown’s CEO and CFO abruptly resigned in 2021, further complicating the company’s path to bringing its EV pickup to market.
To save its fate, Chinese manufacturing giant Foxconn stepped in, buying its Ohio plant and giving the EV startup a lifeline. The sale was completed in May 2022, with Foxconn’s CEO vowing Endurance deliveries would begin before the end of the year.
On its second-quarter earnings, Lordstown said it would need at least $50 to $75 million to scale production and get the Endurance out for delivery. Foxconn came to the rescue again, investing another $70 million to revamp the EV program.
Despite several close calls, Lordstown began production in late September, reiterating its goal to start deliveries by year’s end. With today’s announcement, Lordstown has hit another milestone on its quest to bring its Endurance EV pickup to market.
Lordstown Endurance EV truck deliveries begin
In a press release today, Lordstown says its Endurance electric truck achieved full homologation, which was needed to begin sales. Furthermore, the company has received both EPA and CARB certifications.
Top comment by ShoeShineBoy
Another game changer for local plumbers and roofers and other local worker fleets. Wonder who the first customers to take delivery are. Would love to hear from them in 6 mos or so
Lordstown CEO Edward Hightower talks about the company milestone, saying:
I am very proud of the Lordstown Motors and Foxconn EV Ohio team for their hard work, grit, and tenacity in achieving this milestone. We are very excited to start delivering vehicles to our commercial fleet customers. The EnduranceTM will provide benefits to customers that use their vehicles for work. It optimizes key attributes of traction and maneuverability – with our in-wheel hub motors, safety – with our five-star crash performance, and value in the segment.
The company says the first units of its initial batch of 500 are leaving the Foxconn Ohio EV plant and out for customer delivery.
Lordstown previously said it expects to deliver 50 of the first 500 by the end of the year, with the rest going out in the first half of 2023 as the company raises capital.
The Lordstown Endurance is also a finalist for the North American Truck of the Year competition, which will be determined in January. Check back for updates!
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