Lordstown Motors Recalls Endurance EV Pickup Truck
An unfinished Endurance pickup on an electric-vehicle assembly line in Lordstown, Ohio.
Photo:
QUINN GLABICKI/REUTERS
Electric-vehicle startup
Lordstown Motors Corp.
RIDE -12.20%
issued a recall and halted production of its Endurance pickup truck, only months after starting to make the vehicle.
Lordstown Motors said Thursday that the recall affects 19 vehicles that are either held by customers or being used internally at the company. The company said it issued the voluntary recall to address an electrical-connection issue that could lead to a loss of propulsion while driving.
The company also said it has halted production and deliveries of the truck while it investigates performance and quality issues with certain components. Lordstown Motors said it is working with suppliers to conduct a root-cause analysis of each issue. The company said solutions might include design modifications, retrofits and software updates.
“We remain committed to doing the right thing by our customers and to resolve potential issues before resuming production and customer shipments,” Lordstown Motors Chief Executive
Edward Hightower
said.
For recalled vehicles, the company is working with its suppliers to implement corrective action that the company expects to address the issue. The recall affects 19 vehicles that are either held by customers or being used internally at the company.
Shares of the company, which went public via a merger with a special-purpose acquisition company in 2020, were down nearly 14% at $1.06 in early afternoon trading on Thursday. The stock is down roughly 63% over the past 12 months.
Lordstown Motors launched production of its Endurance pickup truck in the third quarter of 2022 and received certifications to begin customer deliveries in the fourth quarter. It expected to deliver about 50 trucks to customers in 2022.
In January, the company said it expected a slow rate of production through the first quarter because of supply-chain issues, “particularly with respect to the availability of hub motor components.”
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
An unfinished Endurance pickup on an electric-vehicle assembly line in Lordstown, Ohio.
Photo:
QUINN GLABICKI/REUTERS
Electric-vehicle startup
Lordstown Motors Corp.
RIDE -12.20%
issued a recall and halted production of its Endurance pickup truck, only months after starting to make the vehicle.
Lordstown Motors said Thursday that the recall affects 19 vehicles that are either held by customers or being used internally at the company. The company said it issued the voluntary recall to address an electrical-connection issue that could lead to a loss of propulsion while driving.
The company also said it has halted production and deliveries of the truck while it investigates performance and quality issues with certain components. Lordstown Motors said it is working with suppliers to conduct a root-cause analysis of each issue. The company said solutions might include design modifications, retrofits and software updates.
“We remain committed to doing the right thing by our customers and to resolve potential issues before resuming production and customer shipments,” Lordstown Motors Chief Executive
Edward Hightower
said.
For recalled vehicles, the company is working with its suppliers to implement corrective action that the company expects to address the issue. The recall affects 19 vehicles that are either held by customers or being used internally at the company.
Shares of the company, which went public via a merger with a special-purpose acquisition company in 2020, were down nearly 14% at $1.06 in early afternoon trading on Thursday. The stock is down roughly 63% over the past 12 months.
Lordstown Motors launched production of its Endurance pickup truck in the third quarter of 2022 and received certifications to begin customer deliveries in the fourth quarter. It expected to deliver about 50 trucks to customers in 2022.
In January, the company said it expected a slow rate of production through the first quarter because of supply-chain issues, “particularly with respect to the availability of hub motor components.”
Write to Will Feuer at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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