The company plans to produce the Endurance at General Motors' former Lordstown Assembly plant in Ohio. According to an SEC filing on Monday, Lordstown may be facing. Shares of Lordstown Motors, which hit an all-time low of 0.25 earlier this week. EV start-up Lordstown (RIDE) just hit another major hurdle in its journey to bring the Endurance electric pickup to market. It is among a growing group of electric vehicle start-ups going public through deals with SPACs, which have become a popular way of raising money on Wall Street because they have a more streamlined regulatory process than traditional initial public offerings. Lordstown Motors had just 108 million in cash at the end of the first quarter, according to its earnings report. Lordstown Motors has announced its Endurance electric pickup truck has received its certifications from the United States Environmental Protection Agency. Lordstown went public through a special purpose acquisition company, or SPAC, in October. The short seller claimed the pickup was years away from production however, Lordstown maintains it's on track to start making the vehicle in September.īurns on Monday reiterated the company is continuing to cooperate with the SEC. Hindenburg accused Lordstown in a March report of using "fake" orders to raise capital for the Endurance. The Endurance comes with a 109.0-kWh battery pack that Lordstown says is good for about 200 miles of driving per charge. Securities and Exchange Commission had requested information regarding claims by short seller Hindenburg Research that it misled investors. Lordstown Endurance Endurance production started late last year under that arrangement, but Lordstown recently paused production ahead of a recall that its still working through. Personal Loans for 670 Credit Score or Lower Lordstown Motors claims the 6500-lb (2948 kg) Endurance will accelerate from stop to 60 mph (96.5 km/h) in 6.
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