Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US electric truck manufacturer Lordstown plans to begin deliveries of its Endurance model to a few customers by early 2022.


The company indicated while announcing its Q2 2021 results on Aug 11 that these deliveries would be made to select customers before it expands its production and network to include more consumers. 


Moreover, the truck maker plans to begin production in early September since it has completed its retooling, assembly, body, and paint shops and has commissioned its battery line. According to media reports, the beleaguered company plans to begin its operations cautiously by reducing its operating costs during the quarter.


In Q2 2021, Lordstown reported a net loss of $108mn compared to $7.9mn in the same quarter last year. 


Lordstown recently appointed Becky Roof as its interim chief financial officer (CFO) and Angela Strand as the lead independent director to oversee most of the executive transitions after its chief executive officer and founder, Steve Burns, and CFO. The transitions were made following a Hindenburg Report that cast doubts on the company’s production timeline and other cost factors, which have hindered the truck maker’s growth.

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