Lordstown Motors Corp. (Nasdaq: RIDE), an original equipment
manufacturer of electric light duty vehicles focused on the
commercial fleet market, will be in Booth #6009 at the March 7-10
Work Truck Week in Indianapolis.
The EV innovator is bringing the Lordstown
Endurance™ full size all-electric pickup onsite at the Work
Truck Week show at the Indiana Convention Center. The Lordstown
Endurance™ began commercial production at the Foxconn EV Ohio
assembly plant in Q3 2022 with initial sales in Q4 2022.
In addition to the Lordstown Motors Corp. booth
#6009, the Endurance™ will also be displayed in two additional
areas: Booth #801 with JB Poindexter/LEER Group and Booth #1243
with ECCO, where the Endurance™ will be shown equipped with
truck accessories, customized for various vocations for commercial
fleet markets.
“The Lordstown Endurance is the only all-electric
pickup solely for commercial fleets, designed to optimize critical
vehicle capabilities of traction and maneuverability, safety and
value,” said Edward T. Hightower, CEO and President, Lordstown
Motors.
Work Truck Week is North America’s largest
work truck event. Produced annually by NTEA – The Association
for the Work Truck Industry, it includes Work Truck Show exhibits,
education and training, Green Truck Summit, and networking.
About Lordstown Motors
Corp.Lordstown Motors is an electric vehicle (EV) OEM
developing innovative light duty commercial fleet vehicles, with
the Endurance all electric pickup truck as its first vehicle and
being launched in the Foxconn EV plant in Lordstown, Ohio.
Lordstown Motors has engineering, research and development
facilities in Farmington Hills, Michigan and Irvine, California.
For additional information visit www.lordstownmotors.com.
About NTEA
Established in 1964, NTEA – The Association for the
Work Truck Industry, a 501(c)(6) organization, represents more
than 2,000 companies that manufacture, distribute,
install, sell and repair commercial trucks, truck bodies, truck
equipment, trailers and accessories. Buyers of work trucks and the
major commercial truck chassis manufacturers also belong to NTEA.
The Association provides in-depth technical information, education,
and member programs and services, and produces Work Truck
Week and Green Truck Summit. The Association maintains
its administrative headquarters in suburban Detroit
and government relations offices in Washington, DC, and
Ottawa, Ontario, Canada.
FORWARD LOOKING STATEMENTS
This release includes forward looking statements.
These statements are made under the “safe harbor” provisions of the
U.S. Private Securities Litigation Reform Act of 1995. These
statements may be identified by words such as “feel,” “believes,”
expects,” “estimates,” “projects,” “intends,” “should,” “is to be,”
or the negative of such terms, or other comparable terminology.
Forward-looking statements are statements that are not historical
facts. Such forward-looking statements are not guarantees of future
performance and are subject to risks and uncertainties, which could
cause actual results to differ materially from the forward-looking
statements contained herein due to many factors, including, but not
limited to: our ability to continue as a going concern, which
requires us to manage costs, obtain significant additional funding
to execute our business plan, and our ability to raise such funding
on a reasonable timeline and with suitable terms; our ability to
obtain a strategic partner for the Endurance and to raise
sufficient capital, including under the financing arrangements we
have established, in order to invest in tooling, continue design
enhancements of the Endurance to enable scaled production and fund
any future vehicles we may develop; the cost and other impacts of
contingent liabilities and availability of insurance coverage
and/or adverse publicity with respect to these matters, which may
have a material adverse effect, whether or not successful or valid,
on our liquidity position, market price of our stock, cash
projections, business prospects and ability and timeframe to obtain
financing; our ability to effectively implement and realize the
benefits from our recently completed and pending transactions and
agreements with Foxconn, including the additional funding
transactions under the Investment Agreement, dated November 7,
2022, which are subject to closing conditions, our ability to
utilize the designs, engineering data and other foundational work
of Foxconn, its affiliates, and other members of the
Mobility-in-Harmony (MIH) consortium as well as other parties, and
all such parties adhering to timelines to develop, commercialize,
industrialize, homologate and certify a vehicle in North America,
along with variables that are out of the parties’ control, such as
technology, innovation, adequate funding, supply chain and other
economic conditions, competitors, customer demand, regulatory
approval and other factors; our ability to execute our business
plan, expansion plans, strategic alliances and other opportunities,
including development and market acceptance of our planned
products; risks related to our limited operating history, the
execution of our business plan and the timing of expected business
milestones; our ability to successfully address known and unknown
performance, quality, supply chain and other launch-related issues,
some of which are or may be material and have or could give rise to
a recall of our vehicles, and resume commercial production and
sales of the Endurance on a reasonable timeline and in accordance
with our business plan; our ability to establish appropriate
supplier relationships to support new vehicle programs; our ongoing
ability to obtain vehicle components from our supply chain in
sufficient quantities and of acceptable quality to meet vehicle
requirements; the availability and cost of raw materials and
components; our ability to successfully identify and implement
actions that will lower the Endurance bill of materials cost,
including identifying a strategic partner to scale the Endurance;
our ability to obtain binding purchase orders and build customer
relationships; our ability to deliver on the expectations of
customers with respect to the pricing, performance, quality,
reliability, safety and efficiency of the Endurance and to provide
the levels of after sale service, support and warranty coverage
that they will require; the risk that our technology, including our
hub motors, do not perform as expected; the effects of competition
on our ability to market and sell vehicles; our ability to attract
and retain key personnel and hire additional personnel; the pace
and depth of electric vehicle adoption generally; our ability to
obtain and maintain intellectual property protection and not
infringe on the rights of others; our ability to obtain required
regulatory approvals and changes in laws, regulatory requirements,
interpretations of existing law, governmental incentives and fuel
and energy prices; and the possibility that we may be adversely
affected by other economic, geopolitical, business and/or
competitive factors, including rising interest rates and the direct
and indirect effects of the war in Ukraine.
Additional information on potential factors that
could affect the financial results of Lordstown Motors Corp. and
its forward-looking statements is included in its most recent Form
10-K and subsequent filings with the Securities and Exchange
Commission. All forward-looking statements are qualified in their
entirety by this cautionary statement. Any forward-looking
statements speak only as of the date on which they are made, and
Lordstown Motors undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date of this release.
Media Contact: Colleen
Robarcrobar@robarpr.com313.207.5960
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