The fourth quarter of 2022 marked the beginning of delivery operations for the electric pickup trucks manufactured by Lordstown Motors, as reported by InsideEVs.
Unfortunately, the electric vehicle startup could only deliver three units of its Endurance, one of only a few electric pickup trucks currently available in the United States.
Despite this, it is abundantly clear that the company is mindful of its challenges and now asserts that it is progressing with a new EV program.
Challenges
Much like the vast majority of other EV startups, Lordstown is losing money at an alarming rate, and the company may soon be forced to halt production.
However, it proved the naysayers wrong by developing numerous Endurance electric pickup trucks and releasing a few. Still, scaling is typically where things get challenging for automotive startups.
Lordstown is one of many EV startup companies in the United States. Many of these companies were virtually unknown to the general public before disappearing almost as fast as the media began reporting on them.
There has been news since the beginning that even the most well-known EV startups are up against major challenges. However, a few have proven somewhat productive, including Rivian and Lucid.
Foxconn backs Lordstown
Tesla has done this for a period that seems an eternity now. It has recently reached the point where most people no longer require it as a troubled startup on the verge of becoming bankrupt.
Despite this, a significant number of people are skeptical that electric vehicle manufacturers in the United States will succeed in the long run.
Lordstown was on the verge of collapse after suffering massive financial losses and the departure of its most senior executives.
Thankfully, Foxconn, an electronics manufacturer based in Taiwan, came to the rescue on multiple occasions for the manufacturer of electric trucks.
Foxconn recently acquired Lordstown’s factory in Ohio and has been providing the electric vehicle (EV) startup with assistance in the form of several significant financial investments.
So far, Foxconn’s assistance has yet to propel Lordstown forward more successfully. In addition to the fact that it is in the middle of a voluntary recall, the company is currently not manufacturing any of its trucks.
Lordstown’s next-gen platform
In November, Lordstown asserted that 500 Endurance automobiles were on their way out of the factory.
Only 40 were completely ready or almost prepared, and only three were supplied in 2022. It has been reported that the company has delivered two more since then.
Despite everything stated, Lordstown maintains that it is working on the recall issue, and Foxconn will keep investing and offering assistance.
Additionally, the manufacturer of electric trucks asserts that their next-generation platform will be the driving force behind their company’s continued prosperity.
See Also
- Lordstown Motors halts e-truck Endurance production and delivery operations
- Lordstown Motors is delivering its first shipment of electric trucks
- Foxconn plans to join the EV bandwagon; is it too late?
- How EV-related stocks changed in January 2023
- GM, LG venture starts battery cells production at new Ohio Factory
