Lordstown Motors Appears to be like Lifeless In The Water
- by Automobilnews.eu
The monetary points at Lordstown Motors run deeper than most beforehand suspected: on Tuesday the corporate’s shares closed at $11.22 signifying a big drop from the opening worth of $15.50. To make issues worse, the corporate is susceptible to being delisted from the Nasdaq as a result of late submitting of its quarterly report back to the SEC. Common Motors, which owns a big share of the corporate, additionally bought it the Lordstown meeting plant that’s presently sitting idle. The one hope for this fledgling EV producer is its Endurance pickup truck which guarantees 600 horsepower, round 250 miles of vary, and a price ticket of below $55k. With Ford and Chevrolet able to unleash all-electric variations of the F-150 and Silverado, it would simply be too late for Lordstown Motors.