Lordstown Motors presents the Endurance electric truck and nothing more

Lordstown Motors presents the Endurance electric truck and nothing more

The launch of the Ohio EV was announced today for the first time by Lordstown Motors with its first electric pickup truck, the Stability, at an event attended by Vice President Mike Pence.

The truck, which is aimed at the commercial market, has four electric motors that give it not only all the wheels on the wheel, but also the ability to deliver a different amount of torque on each wheel on its own, which is especially helpful when driving. road or bad conditions.

But little is known about stability. Despite the opening of the prototype version of the stage, the company keeps the mother on virtually all the relevant specifications. Nothing was said about the price, battery life, range, charging time, or performance during the event. Most of the time was given to Pence to campaign in a Trump-style post in support of the production administration, at the same time missing the White House’s repeated attempts to end the federal tax credit for electric vehicles and roll out regulations that put pressure on users. : make cleaner cars.

Lordstown says it will begin shipping the truck in early 2021, which is an aggressive schedule for the company, which was founded just a year ago. The CEO of the company Steve Burns stated that his goal is to have the first electric pickup truck on the market.

“People are starting to believe in electricity,” Burns said at the event. “We are going to beat everyone in the market.”

That said, Lordstown Motors doesn’t start from scratch. Burns is a former CEO of Workhorse, a start-up company that has been struggling with commercial electric vehicles for several years. Workhorse owns 10 percent of Lordstown Motors, and Endurance is based on the intellectual property that Lordstown Motors patents Burns. Lordstown Motors paid Workhorse $ 15.8 million for the IP, and Workhorse will make up 1 percent of each Endurance truck sold (for the first $ 200,000). And: 1% has the right to finance any share or share of financing the newly created increases.

Lordstown Motors already has Endurance installed. The former General Motors plant in Lordeown, Ohio, closed in late 2018. The closure of the plant became President Trump’s favorite target, saying GM CEO Mary Barra had made a “big mistake”. In May last year, Trump announced early that GM was selling the plant to Workhorse. Although it has long been known that the new company, Lordstown Motors, was going to buy a factory and make new foreign investments without a workhorse luggage.

GM even provided a $ 40 million loan to Lordstown to buy the plant. He told about the burns Reuters: It was a few weeks away from repaying the loan in January. But when? The origin: Asked about the loan in March, Burns said he had “called back a little to even say so” and that he “shouldn’t even really talk about it.” [Lordstown’s] funding, in addition to saying that we are pursuing our funding goals. ”

He told about the burns The origin: Lordstown Motors needs about $ 450 million to upgrade the plant and bring “Stability” into production. The company did not comment on the progress of the fundraiser on Thursday. Lordstown Motors has announced that it is taking out a loan from the same energy department (DOE) of the Advanced Technology Vehicle Manufacturing (ATVM) program to help Tesla install the map.

He told about the burns The origin: In March, he met with DOE Secretary General Dan Brewett, who felt that Lordstown Motors was “very suitable” for the loan, but that “it is by no means conditioned by our success.” Briulet even took part in Thursday’s event. But DOE has not provided an ATVM loan for years, and the Trump administration wants to remove it completely from the 2021 budget.

The Endurance is entering a market that is going to be very crowded with electric pickups. EV’s newly formed Rivian, which supports Amazon and Ford, plans to sell an electric pickup truck and SUV starting in 2021. The electric version of GM’s Hummer was made in 2021. Tesla plans to start building its electric Cybertruck in late 2021. The Ford F-150 is the most popular electric truck in the United States since 2022.



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