Inside Lordstown Motors, company offers tour of plant's progress
LORDSTOWN, Ohio - Lordstown Week kicked off Monday at Lordstown Motors Corp. with tours of its facility and test drives inside the beta versions of the Endurance all electric pick up truck.
Potential investors, select members of the media and analysts were invited inside the plant that LMC purchased from General Motors for $20 million.
Portions of the production process were showcased by department heads, including some who were former GM Lordstown workers that found a new role with Lordstown Motors.
"We built the fram and the power train and the battery pack all here," Darren Post said, chief engineer at the plant.
"We also assembled the body itself and welded like you're going to see over in the body shop. We put the whole vehicle together here in general assembly."
Not all of the plant's operations are installed or fully up and running. Post said the production line for the hub mets would not be installed until a month before limited production begins.
The plan is to reach limited production in the fourth quarter this year, sometime in September.
The tour showcased seven areas within the plant including stamping, the body shop where welding takes place, the paint shop, the hub met production area, general assembly and the battery lines.
A former GM Lordstown worker says his new role as general assembly director is an incredible opportunity. He says building an EV vehicle is not the same as making a traditional one.
"Lots of similarities, lots of differences, you'll feel it when you go ride the truck," John Wood said.
The acting CEO Angela Strand who took over for former CEO Steve Burns, would not agree to take questions on camera. Instead, a Lordstown Motors spokesperson says they wanted the focus of the week to remain on the Endurance truck.
Auto analysts question the company's ability to reach production following an SEC filing where the company indicated it has 'substantial doubt' will could reach full scale commercial production this fall.
The resignations of the company's two top executives, CEO Steve Burns and the CFO, was announced last week, followed by statements about binding orders for the next two years that the company eventually walked back on Thursday.
A report in the Wall Street Journal Monday details how several top executives sold off chunks of their stock in the company ahead of its SEC financial report.
Lordstown Motors CEO Anglea Strand says they're still committed to making sure the Endurance is the first EV truck to enter the market.
She says they're still trying to reach out and secure more investors.
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