Lordstown Motors Goes Bust

On Tuesday, Lordstown Motors Corp. (LMC) officially filed for bankruptcy and sued Foxconn. Though the writing was already on the wall for the Ohio-based electric vehicle manufacturer. Lordstown’s share price collapsed in 2021 and the company has suffered numerous production delays. This seems to have encouraged the Hon Hai Technology Group/Foxconn to back out of its strategic partnership.

But it’s not bad news for everybody. Former chief executive of Lordstown Motors, Steve Burns, managed to sell off every share of his stock before the company filed for Chapter 11. You might remember him as the executive who abruptly quit the company without explanation shortly after LMC's stock valuation slammed into the pavement.

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Lordstown Motors Aims for Late June Pickup Debut

It’s the smallest player in the nascent electric pickup segment, but it wants to be among the first — if not the first — to field such a product. That would be Lordstown Motors Corp., the fledgling automaker that took ownership of General Motors’ sprawling assembly plant in Lordstown, Ohio last November.

From that 6.2 million square foot facility, the company hopes to realize its dream of competing with Ford, GM, Rivian, and others with its Endurance pickup — a full-size EV powered by four in-wheel motors built on site. There’s not long to wait for a debut.

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LMC: Pandemic, Recession Spell 20-percent Production Drop in 2020

This year stands to become one of those big “blip” years if predictions by industry forecaster LMC Automotive pan out.

The firm now expects global vehicle output to drop “more than” 20 percent as a result of both the coronavirus pandemic and ensuing recessions born of state-mandated lockdown orders.

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  • Slavuta "The fuel-economy numbers are solid, especially the 32 mpg on the highway"My v6 Highlander did 31 over 10 hour highway trip
  • Aja8888 As I type this, my 4 months old Equinox's Onstar module that controls the phone is broken. Yep, 4 months (never worked right from day one). Replacement will be a REFURBISHED unit since no new ones can be obtained (from China?). I really don't miss the phone via Bluetooth. And I have a great Garmin that I have used for years for trips which has free lifetime maps and traffic.
  • Bd2 There's a reason why talented American execs have been leaving Stellantis in droves.Tavares seems intent in following "Le Cost Cutter" Ghosn into driving his company into the dirt, whilst "justifying" his ever expanding compensation.
  • Bd2 Too bad gm didn't make the C8 better looking to begin with...
  • GregLocock Not interested at all. Apparently I've got Apple car play but I've never used it in 3 years. The built in nav is ok.