Lordstown Motors founded in 2018. Steve Burns, a former executive director of small commercial vehicles called Workhorse Group (Wkhs)who saw the opportunity when the general engines were supposed to sell their Lordstown, Ohio, a manufacturing plant.
Car manufacturer has started negotiating with burns under pressure from President Trump, which promoted the contract Before burns even had been secured financing or appointed a new company. The resulting company, Lordstown Motors, aim to sell the truck armed with electric motors on each center of the wheel, but it never seemed to observe the problems.
2021. Year, Hindenburg Research has accused Burns and Lorststown about exaggeration of how much orders received for the truck, which herself had troubled problems. During the last three months of 2022. Year, a year of production began, only 31 trucks were built. Only two trucks are delivered to customers next quarter.
Lorstown submitted for Chapter 11 Bankruptcy Protection in June 2023. years, but again appeared in March 2024. years under new name: Nu Ride Inc. and search for “potential business combinations”. Latest Quarterly report It shows $ 58,251 in total assets and $ 15,247 in total obligations.
One announcements The company has out of ownership and quarterly reports are linked to a lawsuit against Foxconn, the company most famous for the development of Apple’s (AAPL) Iphones. Lordstown accused Foxconn to delude him about the plans for cooperation on the EVS line.
2025-02-23 10:00:00
