Cash-strapped EV startup Lordstown Motors is delaying the launch of its electric pickup truck, the Endurance, one day after announcing the sale of its Ohio factory to iPhone assembler Foxconn.
Lordstown Motors said Thursday that it now plans to ship the Endurance in the third quarter of 2022, not the second as previously targeted, because of supply chain shortages. It announced a third-quarter loss of $96 million and said it will finish the year with just $150 million to $180 million in cash — including a $100 million payment from Foxconn toward the purchase of the factory. Lordstown Motors is also still building pre-production versions of the truck at the Ohio factory despite saying as recently as August that it would be making...
source https://www.theverge.com/2021/11/11/22777172/lordstown-motors-endurance-pickup-truck-delay-foxconn
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