Endurance orders Lordstown Motors Fully electric pickup truck Roll on, with the truck maker Announcing On Monday it received nearly 50,000 non-binding production reservations from commercial fleets, with an average order volume of around 500 vehicles per fleet.
“This number does not attract the attention the company has received from organizations that are not in a position to submit advance requests, such as the federal government, state and municipal governments, and military fleets,” the company added.
Lordstown indicated that they expect to produce 40 to 50 vehicles bearing a new or “experimental” prototype starting in early 2021, which will be used for crash testing, engineering and validation. Additionally, some vehicles may be sent out to some of the initial customers for feedback.
Deliveries of Lordstown Endurance are expected to begin in September 2021, with full production increasing throughout 2022.
Lordstown Motors CEO Steve Burns Stuart Farney of FOX Business told FOX Business last month that the truck has a 600 hp engine and is getting the equivalent of 75 miles of gas per gallon.
Burns said the 2021 Endurance uses wheel-based engines with an independent motor and software attached to each wheel, making it a “true all-wheel drive engine.”
“We intend it to be the safest pickup truck,” he explained. “We don’t have a big V8 in there, so there are a lot of shock areas. We handle nicely. We treat like a sports car. We get great traction because of real four-wheel drive. And of course, it’s the greenest. So it’s the most economical, greenest and safest car.”
Endurance comes at $ 45,000, according to Burns.
In order to meet the demand for an endurance pickup, Lordstown plans to increase its staff to 500 people by the end of 2020 and 1,500 by the end of 2021. The company currently employs more than 250 people in manufacturing and engineering, marketing and sales, facilities, human resources, information technology and chain Supply, accounting and finance. Lordstown has also hired approximately 150 contractors.
The company went public on the Nasdaq under the ticker symbol RIDE through a private buyout company, or SPAC, starting last month. SPAC is a company – also known as a “blank check company” – that has no business operations and strikes a deal to get companies into the public without going through the traditional initial public offering. Lordstown jointly with DiamondPeak Holdings Corp.
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Monday’s announcement sent shares of Lordstown higher during Monday’s trading session, with the shares closing at $ 22.55, up more than 25%.