Lordstown Motors Corp. announced it has received more than 100,000 non-binding production reservations from commercial fleets for its Endurance all-electric pickup truck, with an average order size of nearly 600 vehicles per fleet.
With a defined focus on the commercial fleet market, Lordstown is one of a host of emerging OEMs producing electric light-duty trucks. Other manufacturers jockeying for position in the growing EV market include Nikola, Rivian, Arrival, Tesla and Bollinger. Automotive giant Ford Motor has also placed significant bets on an electrified future with its 2020 introduction of the all-electric F150 truck.
The Endurance is a full-size, all-electric pickup that has a range of 250 miles, the equivalent of 600 hp. and can tow up to 7,500 lbs. After successful prototype and Alpha builds, Lordstown is now building the first Beta Endurance vehicles and is on track for start of production in September of this year. The initial Endurance is a crew cab configuration with medium bed length, priced at $45,000 after federal rebate.
“Receiving 100,000 pre-orders from commercial fleets for a truck like the Endurance is unprecedented in automotive history,” said Steve Burns, CEO of Lordstown Motors in a press release. “Adding in the interest we have from federal, state, municipal and military fleets on top of that, I think you can see why we feel that we are about to revolutionize the pickup truck industry.”
The automaker first showed off its Endurance product in June 2020, the first offering emerge from Lordstown Motors’ continued effort to renew Lordstown, Ohio’s manufacturing economy. In 2018, General Motors announced it would close its Chevy Cruze production facility there. Towards the end of 2019, following a massive UAW strike, the Detroit-based auto giant sold Lordstown Motor Corp. the plant and loaned the fledgling company $40 million.
Due tot he news, Lordstown Motors, listed as RIDE on the Nasdaq, has increased to $27/share as of Jan. 11, an increase of 35% from the start of the year.
