Lordstown Motors announces delay of Endurance production
People waiting to see Lordstown Motors all-electric pickup trucks driving along the road will have to wait a while longer.
Lordstown Motors Chief Executive Officer Dan Ninivaggi revealed during the company’s third-quarter financial reports released on Thursday, that commercial production and deliveries of the truck aren’t expected until the third quarter of 2022.
That’s a change from LMC’s announcement in August that commercial deliveries were expected early in the second quarter of next year.
“This is a modest delay from earlier expectations as component and material shortages, along with other supply chain challenges, remain an issue for Lordstown Motors just as they are for the industry at large,” said Ninivaggi.
News of the delay came the same week as the completion of an asset purchase agreement with Foxconn to sell LMC’s Lordstown assembly plant and the negotiation of a contract manufacturing agreement.
“Our partnership with Foxconn will unlock the tremendous potential of the Lordstown automotive plant, enable us to reduce the overall cost of bringing the Endurance to market, and position us to be able to jointly develop vehicles with a partner that has significant scale, manufacturing expertise, and a commitment to electric vehicle manufacturing as one of its key global strategic priorities,” said Ninivaggi.
LMC and Foxconn have agreed to pursue a joint venture to jointly design and develop commercial vehicle programs for North America and internationally using Foxconn’s “MIH” open EV platform.
“Working collaboratively with Foxconn, we expect to be able to bring future vehicles to market faster and more efficiently,” according to Ninivaggi.