A thunderstorm brews over Lordstown Motors
The initially promising startup has had a bit of a roller coaster ride. After cash issues and an embarrassing prototype endurance race in Mexico, it seemed the company had weathered the worst. Now an investigation by the US Justice Department looms.
This time last year, US Vice President Mike Pence was driving a prototype of the Lordstown Endurance electric pick-up on stage. After being taken to court by Karma (literally, though perhaps also figuratively), being exposed as over-estimating order numbers by Hinderberg Research, having its Endurance pick-up exhausted in a Mexican desert race, and having run out of cash, now Friday’s Wall Street Journal reports that the Justice Department has also opened an investigation into electric vehicle startup.
Lordstown spokesperson Ryan Hallett however responded calmly and reassures us that this setback is temporary: “We look forward to closing this chapter so that our new leadership — and entire dedicated team — can focus solely on producing the first and best full-size all-electric pickup truck, the Lordstown Endurance.”
freep.com
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Wow. That was some news.
Who is paying?
What is the real news here? Tell us something substantial about what this company has done wrong? Otherwise wait for them to deliver the truck as they have kept to their timeline, then judge
The news is that the company is under investigation by the Justice Department. We’ll leave the judging to the professionals.
You’ll be waiting forever if you wait for them to actually make a production truck. Might as well talk about it now while the company still exists, am I right?