40K preorders made for LMC’s Endurance truck
LORDSTOWN — Lordstown Motors Corp. announced Wednesday it has 40,000 nonbinding preorders for its all-electric Endurance pickup truck that would equal — if zero are canceled or delayed — $2 billion in revenue for the manufacturer.
The Lordstown-based company that purchased and is operating from the former General Motors assembly plant, last month announced a merger with DiamondPeak Holdings Corp., a special purpose acquisition company.
That move is expected to infuse $675 million into the company that will become public later this year.
The company plans to begin production in early 2021 with initial deliveries targeted for the second half with the hope to ramp production up to 100,000 by 2024.
A rolling prototype of the Endurance, powered by four in-wheel hub motors, was revealed at the plant in June. On Wednesday, it traveled to the Statehouse in Columbus, where company CEO Steve Burns and lawmakers highlighted the innovation and jobs the company is bringing to Ohio.
The first wave of people hired will include 400 line workers and 100 more each in the battery and motor plants, which are to be contained in the 6.2 million-square-foot plant. About 300 or so engineers will be employed, too.
“This new electric truck represents Ohioans getting back to work,” Senate President Larry Obhof, R-Medina, said.