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Lordstown Motors expects limited production and deliveries of electric pickup in 2022 - CNBC

Lordstown Motors expects limited production and deliveries of electric pickup in 2022 - CNBC

Lordstown Motors expects limited production and deliveries of electric pickup in 2022 - CNBC
Aug 04, 2022 28 secs

CFO Adam Kroll said Lordstown will need to raise "substantially more capital" to produce the initial 500 Endurance electric pickups, though the company projects it will need less money than previously thought.

The company said it will need to raise between $50 million and $75 million this year, down from previous expectations of $150 million.

Ford's electric F-150 is squarely positioned to compete against the Endurance for the commercial pickup truck market.

The electric F-150 pickup starts at about $23,000 less than the Endurance, plus, it carries a first-mover advantage and the backing of a well-funded company?


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