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Lordstown Motors +4% after positive update on orders, delivery schedule
Nov. 16, 2020 7:26 AM ET|About: Lordstown Motors Corp. (RIDE)|By: Clark Schultz, SA News Editor
Lordstown Motors Corp. (NASDAQ:RIDE) remains on track to begin production of the Lordstown Endurance full-size pickup truck in September of 2021.
Instead of providing updates through an earnings release or conference call, Lordstown Motors continues to disclose periodic updates related to demand indicators, production milestones, hiring and facilities, service and internal promotions.
“We continue to make significant progress across all fronts, and we are excited to reveal these developments with the investment community and future customers today," says CEO Steve Burns.
Lordstown Motors says it has received approximately 50K non-binding production reservations from commercial fleets, with an average order size of approximately 500 vehicles per fleet. The company notes it has also received interest from organizations that are not in a position to be able to place pre-orders, such as federal, state and municipal governments, and military fleets.
Deliveries of the Lordstown Endurance are expected to begin in September 2021, with full production ramping up throughout 2022.
Lordstown Motors +4% after positive update on orders, delivery schedule
Nov. 16, 2020 7:26 AM ET|About: Lordstown Motors Corp. (RIDE)|By: Clark Schultz, SA News Editor
Lordstown Motors Corp. (NASDAQ:RIDE) remains on track to begin production of the Lordstown Endurance full-size pickup truck in September of 2021.
Instead of providing updates through an earnings release or conference call, Lordstown Motors continues to disclose periodic updates related to demand indicators, production milestones, hiring and facilities, service and internal promotions.
“We continue to make significant progress across all fronts, and we are excited to reveal these developments with the investment community and future customers today," says CEO Steve Burns.
Lordstown Motors says it has received approximately 50K non-binding production reservations from commercial fleets, with an average order size of approximately 500 vehicles per fleet. The company notes it has also received interest from organizations that are not in a position to be able to place pre-orders, such as federal, state and municipal governments, and military fleets.
Deliveries of the Lordstown Endurance are expected to begin in September 2021, with full production ramping up throughout 2022.