Lordstown Motors’ Endurance, one of the main models of electric trucks, made its introduction during a unveiling at the White House on Monday.
“We’ve been working on this very long and very hard,” President Trump said. “They went in and they have an incredible vehicle.”
As indicated by the company’s site, the vehicle is the first to offer “true four-wheel drive” utilizing four in-wheel hub engines to essentially improve the truck’s control.
The Endurance likewise has the least moving pieces of any engine vehicle, which could mean less upkeep costs and an essentially lower complete expense of possession than conventional business vehicles. It additionally includes a trunk in the front of the taxi, as indicated by Lordstown CEO Steve Burns.
Sen. Loot Portman, R-Ohio, said that Lordstown got a “gut punch” when General Motors chose to quit making the Chevy Cruze and pulled out of the region, leaving in excess of 1,500 plant laborers jobless.
He noticed that between the Endurance being delivered at the old General Motors plant and another joint endeavor for a battery plant between General Motors and LG Cam, which will enlist in excess of 1,100 laborers, the past activity misfortunes will be basically eradicated.
“Beyond the plant, it’s incredible what’s happened in the area,” Trump included. “It’s booming now. It’s absolutely booming.”
Burns said the automaker has gotten 40,000 preorders for the Endurance, which has a base cost of $52,500, and noticed the company intends to make in excess of 100,000 Endurance pickup trucks for each year. Lordstown will start Endurance conveyances beginning in pre-fall 2021.
The move comes as Lordstown plans to open up to the world by means of a SPAC, or uncommon buy acquisition company, one year from now.
The uncovering has sent portions of Workhorse, which claims a 10% value stake in Lordstown, up over 13% before the finish of Monday’s exchanging meeting. Portions of DiamondPeak Holdings, who declared they would gain Lordstown Motors back in August, likewise flooded over 12% before the finish of Monday’s exchanging meeting on the declaration.