Lordstown Motors is developing a new battery-electric commercial van, which could serve as a rival to GM's upcoming BrightDrop EV600 electric delivery van.
Endurance, which is anticipated to be the world’s first mass produced full-size all-electric pickup truck, this year. “We are hard at work in the factory preparing to begin Beta builds in the coming weeks,” remarked Steve Burns, Chief Executive Officer of Lordstown Motors.
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Lordstown Motors To Start Building Beta Prototypes Of Endurance Pickup
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John Rosevear is the senior auto specialist for Fool.com. John has been writing about the auto business and investing for over 20 years, and for The Motley Fool since 2007.
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What happened
Shares of several U.S. companies in the electric vehicle space were trading higher on Tuesday, after the Biden administration announced measures to speed the adoption of electric vehicles in the United States.
Here s where things stood for these three companies as of 10:45 a.m. EST on Tuesday, relative to their closing prices on Monday.
Lordstown Motors (NASDAQ:RIDE) was up about 18.3%.
Nikola (NASDAQ:NKLA) was up about 10.5%.
Lordstown Motors Surpasses 100,000 Pre-Orders for the Lordstown Endurance, First Full-Size, All-Electric Pickup Truck for Fleets
LORDSTOWN, Ohio, Jan. 11, 2021; Lordstown Motors Corp. , (“Lordstown Motors”), an emerging OEM producing electric light duty trucks focused on the commercial fleet market, has received more than 100,000 non-binding production reservations from commercial fleets for its Lordstown Endurance™ all-electric pickup truck, with an average order size of nearly 600 vehicles per fleet.
“Receiving 100,000 pre-orders from commercial fleets for a truck like the Endurance is unprecedented in automotive history,” said Steve Burns, CEO of Lordstown Motors. “Adding in the interest we have from federal, state, municipal and military fleets on top of that, I think you can see why we feel that we are about to revolutionize the pickup truck industry.”