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Lordstown Motors shares jumped 5.73% in premarket trading.

Tiger Newspress2021-08-12

Lordstown Motors shares jumped 5.73% in premarket trading.

The electric vehicle startup said it is on track to begin limited production by the end of September and is in talks with multiple partners that could lead to additional capital infusion.

Lordstown Motors executives told investors in a post-earnings call that it expects to secure regulatory approvals forEndurance, its electric truck, between December to January.

Commercial delivery of Endurance will begin in the first quarter to selected early customers followed by commercial deliveries in the second quarter.

Lordstown also said it is making efforts to raise fresh capital and exploring a variety of other financing options, including non-dilutive private strategic investments and debt.

The electric vehicle startup came under regulatory scrutiny earlier this year following short seller Hindenburg Research’s report that claimed Lordstown Motors was misleading investors and overstating the demand for the Endurance.

A special board committee formed to investigate the short seller’s allegations, found some company statements around truck pre-orders were inaccurate but rejected the report as false and misleading in significant respects.

The company had in June issued a grim warning that, without additional funding, it couldn’t scale commercial truck production and had serious doubts about whether it could survive the year.

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Comment38

  • June陈
    ·2021-08-14
    Good.
    Reply
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  • TK360
    ·2021-08-14
    Nice 
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  • StephanieCCH
    ·2021-08-13
    Nice!
    Reply
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  • sickeninglim
    ·2021-08-13
    Wow.....
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  • MengYang
    ·2021-08-13
    Nice
    Reply
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  • 丰人
    ·2021-08-13
    Great.
    Reply
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  • HawTK
    ·2021-08-13
    Great 
    Reply
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  • SanWangtikup
    ·2021-08-12
    Go go
    Reply
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  • Jasminephyo
    ·2021-08-12
    Ok
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  • dpt
    ·2021-08-12
    Effect of infrastructure bill!!
    Reply
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    • Pluto891
      nothing to shout
      2021-08-12
      Reply
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  • Upupupnaway
    ·2021-08-12
    ?
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    • Mml
      Good
      2021-08-12
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  • winsolutions
    ·2021-08-12
    Invest EV with care. It may not be even the ultimate future. I still want fuel efficient vehicle. Some governments use regulation to force mass adoption, but cannot be done at many countries.
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    • dpt
      come to think of it,  some countries can still need diesel engine veh
      2021-08-12
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  • All in Tesla
    ·2021-08-12
    Will never invest in this company that has no track records and mislead investors ?
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  • tkj
    ·2021-08-12
    Do proceed with caution. What this company has been saying are all in the future tense and they have a history of misleading investors... buyers beware....
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  • wongkk
    ·2021-08-12
    Up up up
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  • Traditional
    ·2021-08-12
    Good
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  • Huatkia168
    ·2021-08-12
    Wow
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  • 暴富21888
    ·2021-08-12
    Ohh
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  • yattreblif
    ·2021-08-12
    $$$
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    • pet
      like and comment pls
      2021-08-12
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  • Yappie830
    ·2021-08-12
    Like n share please
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