do you know Lordstown Motors ? This American company specializes in the production of electric vehicles, or rather pickups. Founded in 2019 and based in Lordstown, Ohio, he attracted attention for his desire to electrify a sector that is still very dependent on thermal energy. Few market players have positioned themselves on it. Rivian and Lucid have not yet released serial models. Even the “big three” lagged behind. Since then, Ford (F-150 Lightning), Chevrolet (Silverado EV), RAM (1500 REV) and Rivian (R1T) offer a large full-size electric pickup truck.

Lordstown Endurance?

Lordstown’s first model is called ” Endurance “. It is also a full size pickup truck which has four electric motors, one per wheel. Developed by combined power 600 horsepower, to accelerate from 0 to 100 km/h in 5.5 seconds. Its battery is capable of providing a range of approximately 250 miles (ie 402 kilometers) with one charge. Lordstown Motors targeted this model primarily at companies and commercial fleets rather than individuals.

Serious financial difficulties

But life is not a long quiet river, but Lordstown Motors has faced difficulties and controversies since its inception. In 2020, she was accused by the investment fund Hindenburg Research of misleading investors exaggerating the previous orders of their cars. She announced 100,000! The allegations led to an investigation by the Securities and Exchange Commission (SEC), the regulator of financial markets in the United States. In addition to this, Lordstown Motors faced problems with liquidity and production capacity. In June 2021, the company’s managing director resigned and the company warned that it may not have enough funds to start mass production of its car. Eventually, some copies may be delivered but we cannot talk about mass marketing.

Chapter 11

Today and in the press release, brand announces that it is subject to Chapter 11 bankruptcy. In other words, it declares itself bankrupt and is preparing for a large-scale restructuring. The company took on debt to buy a former General Motors plant and announced it wants to create 400 jobs. Unfortunately, she is going today put the key under the doorand in the coming weeks, sell your last assets. as The future of FaradayNicola or Lighter, Lordstown was one of these neo-electric builders with a promising future…

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