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Lordstown Motors Still Viable, Company Executives Say


Lordstown Motors Still Viable, Company Executives Say
Company President Rich Schmidt is confident Lordstown Motors can survive through the winter and into next spring, even though documents filed with the U.S. Securities and Exchange Commission indicated the company was in danger of running out of cash.
Despite the abrupt resignations of two top officers and dire warnings about its financial condition, Lordstown Motors still plans to start production in September and has the resources to deliver between 15,000 and 20,000 finished units by May 2022, company executives say. 
Lordstown Motors, a start-up company planning to build battery-electric pickup trucks at the old General Motors plant in Lordstown, OH, faces several challenges, company President Rich Schmidt acknowledges during a presentation to the Automotive Press Assn. in Detroit.  ....

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EVs Need Fewer Repairs, Right? Wrong, Says Study


EVs Need Fewer Repairs, Right? Wrong, Says Study
“This is part of an industry learning curve,” WePredict VP Renee Stephens says of new electric vehicles’ fix rate and costs at car dealerships.
An expectation of consumers and a trepidation of auto dealership service departments is that the waves of electric vehicles hitting the market will need fewer repairs.
“The cost of EV service is less than for gasoline-powered and hybrid vehicles, right?” Renee Stephens, data firm WePredict’s vice president-automotive, says, citing conventional thinking. But she adds: “Wrong.”
Her firm’s aggregated repair data indicate EV parts and labor currently cost twice as much as other vehicles. ....

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