The light truck, a finalist in the North American Truck of the Year competition, began ad production at the Foxconn EV Ohio assembly plant in the third quarter. Sales began earlier this quarter.
“We are very excited to showcase our recently unveiled Endurance ™ battery-powered full-size electric pickup truck at the MIH booth at CES and pre-programmed night outs for journalists on the Las Vegas Strip. , Lordstown Motors’ team of highly professional engineers looks forward to creating more electric cars in collaboration with the MIH Consortium and the Foxconn EV ecosystem,” said Edward Hightower, CEO and President of Lordstown Motors Corporation. “CES is the world’s largest innovation exhibit and has become the center of generational collaboration in the automotive industry. We are proud to be there with our spouses.
CESHightower Press Conference will participate in the MIH press convention on Thursday, January 5 at 11 a. m. m. en West Hall Stand five274.
About Lordstown Motors Corp.
Lordstown Motors is an electric vehicle (EV) OEM developing fleets of state-of-the-art soft advertising vehicles, with the all-electric Endurance pickup truck as its first vehicle and unveiled at the Foxconn EV plant in Lordstown, Ohio. Lordstown Motors has engineering, studies and progression services in Farmington Hills, Michigan and Irvine, California. For more information, visit www. lordstownmotors. com.
Forward-Looking Statements
This press release includes forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These statements would possibly be known through words such as “feel”, “believe”, expect “, “estimate”, “projects”, “intends”, “should”, “will” or the negative form of those terms, or any other comparable terminology. Forward-looking statements are statements that are not old facts. These forward-looking statements are not are long-term promises of performance and are subject to threats and uncertainties, which may also cause actual effects to differ slightly from forward-looking statements contained herein due to factors, including, but not limited to: the need to raise much more capital to execute our business plan, achieve our Endurance production targets, achieve full-scale Endurance production, further expand s automobiles, to continue operations and to remain a going concern, and our ability to raise such financing ng, adding under any of the arrangements within a reasonable time frame and on appropriate terms; the charge and others have effects of contingent liabilities such as litigation, regulatory proceedings, investigations, letters and shareholder claims and the availability of insurance policies and/or adverse exposure in respect of such matters, which would possibly have an adverse effect of curtains, whether or not successful or valid, on our liquidity position, the market value of our shares, money projections, trading clients, and the ability and timing to discharge funds; our limited operating history and ability to execute our business plan, added through our expansion of appointments with Foxconn; our ability to raise enough capital to invest in tools that we believe will ultimately allow us to lower Endurance BOM cost, pursue Endurance design innovations, and finance long-life cars that we can expand as well; the implementation of our business and the timing of expected business milestones, adding the ability to complete certain tools, identify and maintain suitable vendor dates, and continue to ramp up production advertising (which lately is expected to be slow) and all to sell and deliver the Endurance according to our estimated schedule; our ability to identify and successfully implement the moves that will lessen the load on the BOM stamina; supply chain disruptions, inflation, and potential inability to source critical parts and raw curtains, adding in a timely manner or at a compatible price, and have an effect on production, sales, and other activities; our ability to download binding purchase orders and build appointments with our consumers; the risk that our technology, including our hub motors, will not perform as expected and our overall ability to meet visitor and investor expectations for value, performance, quality, strength, protection and security. Endurance power and to get the grades of warranty, service and support that consumers will want; our ability to conduct our business using a direct sales model, rather than through a network of intermediaries used by most other OEMs; the effects of the festival on our ability to market and sell cars; our ability to retain key workforce and hire more workforce; the ability to protect our rights to intellectual assets; failure to download required regulatory approvals; adjustments in legislation or regulatory needs or new or other interpretations of existing law; adjustments to government incentives and fuel and power values; the impact of physical activity outbreaks, including the COVID-19 pandemic, on our business; breaches and threats of cybersecurity and compliance with privacy and knowledge protection legislation; failure to timely implement and maintain monetary, IT and control processes, controls and procedures; our ability to remain in compliance with our existing monetary obligations; and the option that we are affected by other economic, geopolitical, business and/or competitive factors, including emerging interest rates and the direct and oblique effects of the war in Ukraine.
In addition, the transactions we have entered into with Foxconn are subject to dangers and uncertainties. There can be no guarantee that we will, fortunately, implement or realize the expected benefits of those transactions with Foxconn, adding the contract production agreement, financing agreements and progression plans. Additional financing transactions under the investment agreement are subject to final statuses, adding CFIUS authorization and continued negotiation of EV program progression plans and milestones. The EV program will require increased investment and the status quo and enforcement of program requirements, among other things, and may not be consummated, implemented sufficiently, or deliver the benefits we expect, which may also have an adverse effect . curtains to our business, effects of operations, currency condition and prospects. The good fortune of the EV program depends on many variables, which may also stem from our ability to use the designs, engineering knowledge and other basic paints of Foxconn, its subsidiaries, other members of the MIH Consortium and other parties in the marketplace. , industrialize, homologate and certify a vehicle in North America, as well as variables beyond the control of the parties, such as technology, innovation, good enough financing, supply chain and other economic situations, competitors, visitor numbers and other points that the Progression of new cars. If we are not able to close the corresponding financing tranches or expand new cars for ourselves and potentially other visitors, our business prospects, effects of operations and monetary condition may also be adversely affected. If we can’t keep our appointments with Foxconn or manage the outsourcing of Endurance production to Foxconn well, we may not be able to ensure continuity, quality and compliance with our design specifications. or applicable laws and regulations, which can also ultimately disrupt and impair our production and operations.
We will want more investments and seek strategic alliances to execute our business plan and achieve large-scale production of the Endurance and progression of other vehicles. There can be no guarantee that such funding or partnerships will be obtained on favourable terms. or not, due to various factors, adding market and economic conditions, the significant amount of capital required, the fact that our nomenclature charge is currently, and is expected to remain, slightly higher than our expected promotional price, uncertainty around regulatory approval and vehicle functionality, significant exposure to curtain losses similar to the ongoing litigation and SEC investigation, our functionality and investor sentiment toward us and our business and industry.
Additional data on potential points that may have effects on the Company’s monetary effects and prospective emails are included in its most recent Form 10-K and upcoming filings with the Securities and Exchange Commission. All prospective emails are fully qualified. Through this warning matrix, any forward-looking refers only to the date it is made, and Lordstown Motors assumes no legal responsibility to update any forward-looking to reflect occasions or instances subsequent to the date of this release.
Contacts:
InvestorsCarter DriscollIR@lordstownmotors. com
MediaColleen Robarcrobar@robarpr. com313-207-5960