Struggling Lordstown Makes Another Blunder
June 23, 2021—Just days after its president said it had enough firm orders to maintain production through 2022, Lordstown Motors has walked back those statements, the Detroit Free Press reported.
In filings with the Securities and Exchange Commission, the company said "although these vehicle purchase agreements provide us with a significant indicator of demand for the Endurance, these agreements do not represent binding purchase orders or other firm purchase commitments.”
Questions had been mounting about whether Lordstown Motors has enough money to stay in business and about its previous claims that it already had presold 100,000 of its Endurance pickup trucks. It’s the latest in a string of new coverage signaling the company’s struggles. Last week the company’s CEO Steve Burns and CFO Julio Rodriguez resigned.