Lordstown Motors was once in the race against Rivian, Ford and others to build America’s first electric pickup truck. It acquired a factory from GM and a vehicle design from Workhorse but still struggled to manufacture its Endurance EV as it grappled with vehicle fires, short seller reports and recalls.
After selling its namesake factory to Taiwanese iPhone manufacturer Foxconn, it has now turned to a reverse stock split in hopes of avoiding filing for bankruptcy protection.
WSJ’s George Downs explores the rise of Lordstown and the factors that went into the EV company’s decline.
0:00 Lordstown’s rise
2:13 Lordstown’s decline
3:56 Lordstown sells its factory to Foxconn
5:20 Future of the Endurance
#Lordstown #RIDE #WSJ
After selling its namesake factory to Taiwanese iPhone manufacturer Foxconn, it has now turned to a reverse stock split in hopes of avoiding filing for bankruptcy protection.
WSJ’s George Downs explores the rise of Lordstown and the factors that went into the EV company’s decline.
0:00 Lordstown’s rise
2:13 Lordstown’s decline
3:56 Lordstown sells its factory to Foxconn
5:20 Future of the Endurance
#Lordstown #RIDE #WSJ