Lordstown

The Lordstown Motors Corporation is an American automotive company that focuses on the development and production of electric vehicles (EVs). The Lordstown was founded in 2019 and is based in Lordstown, Ohio. Lordstown is home to the Lordstown Assembly plant, which was operated by General Motors (GM) for several decades. Lordstown Motors gained significant attention for its plans to manufacture an all-electric pickup truck called the Endurance.

Lordstown Motors Logo

Lordstown Motors Interior

The Lordstown Endurance was designed as a commercial vehicle targeting fleet customers, with an emphasis on durability and off-road capabilities. The company aimed to address the needs of industries such as construction, utilities, and government services. However, Lordstown Motors has faced numerous challenges and controversies since its inception.

Lordstown Motors EV Truck

In 2020, the Lordstown company went public through a merger with DiamondPeak Holdings, a special purpose acquisition company (SPAC), this move allowed Lordstown Motors to raise funds to support its operations and production plans. In June 2021, Lordstown Motors announced that it may not have enough capital to start commercial production and that there was substantial doubt about its ability to continue as a going concern. The company also faced an investigation by the U.S. Securities and Exchange Commission (SEC) related to its merger with DiamondPeak Holdings and allegations of misleading investors.

Lordstown Electric Truck

2023 Lordstown Endurance Truck

Lordstown Motors experienced leadership changes, with its CEO and CFO resigning in June 2021. The company’s founder, Steve Burns, stepped down as CEO, and Angela Strand was appointed as the executive chairwoman of the board. Lordstown Motors has been working on addressing its financial challenges and restructuring its operations to move forward.

Manufacturer: Lordstown Motors
Website: lordstownmotors.com
Type:, Automotive Company
Stock price: RIDE (NASDAQ) US$4.21 +1.05 (+33.23%) (Jan,2023)
Headquarters: Lordstown, Ohio, United States
Revenue: 0 USD (Fiscal Year Ended 31 December 2020)
Founded: 2018
President: Edward T. Hightower
Key people: Daniel Ninivaggi (Executive Chair); Edward Hightower (CEO)