![]() ![]() “The lessons learned in the desert will become part of the Endurance’s DNA, and help us to meet the rigorous performance expectations and requirements of our customers,” the Lordstown Motors’ post concluded. Reaction posted to the company’s Facebook page was mostly enthusiastic, cheering on the small startup EV motor company. Others wanted more explanation as to why the vehicle didn’t finish the race. A second EV entry also did not finish the brutal race. ![]() Matthew Blanchard of Salem drove the Endurance at San Felipe. Thank you to everyone at Lordstown Motors, our partners at Brenthel Industries and Elaphe Propulsion Technologies, and all of our champions – your hard work, dedication and passion for the Endurance is the reason we made it to Mexico, and the reason we’ll keep going as we continue into our Beta builds ahead of start of production in September.” “We are stopping here and taking our incredible learnings back to Lordstown. Out of the 270 entrants, just 187 were able to finish. Price Action: Lordstown shares, which have seen their value halved since the beginning of the year, closed 2.35% higher at $10.02 on Friday.According to race results, the Endurance went 39.8 miles before withdrawing from the race. Hindenburg had said Lordstown’s orders are largely fictitious and used as a prop to raise capital and confer legitimacy. The company said in January it had received more than 100,000 non-binding production reservations from commercial fleets for its electric truck. Securities and Exchange Commission regarding accusations by Hindenburg related to its order book. Shares of the company dived 12% in March after the electric truck maker disclosed that it had received a request for information from the U.S. It came under investor scrutiny after short seller Hindenburg Research published a report accusing the company of fudging order data and production capabilities. Why It Matters: The withdrawal comes at a crucial time for the electric vehicle startup which went public through a merger with a blank-check company DiamondPeak Holdings in October last year. See Also: Lordstown Motors Debut Earnings Report Gets Clouded In SEC Inquiry Reveal The Endurance pickup is expected to have a target range of 250 miles and a price of $52,500, or $45,000 after reducing the $7,500 federal tax credit. Rivals such as Tesla Inc TSLA, Ford Motor Co F, and Inc-backed AMZN Rivian are racing to start producing their own full-size electric pickups. For its battery supply chain, Lordstown has signed a multi-year agreement with LG Energy Solution. The pickups are made at a manufacturing facility previously operated by General Motors Co GM. Lordstown had last month said it will begin Endurance production in September. See Also: Lordstown Motors Unveils Endurance Pickup Beta Versions The company said the race has provided valuable insights and it has pulled out of the race to now focus on the Beta builds ahead of production in September. Lordstown did not provide any details but said its hub motors, battery pack and software performed well under the treacherous conditions in Mexico. “We did not cross the finish line, but we are proud of the work our team and partners put in to make entering this race possible,” the company said in a tweet. The company had last week unveiled the pickup would participate in the race and said, every year, about 350 purpose-built vehicles compete in the harsh race and less than 50% ever cross the finish line. What Happened: According to reports, the Ohio-based startup’s electric pickup Endurance clocked about 40 miles, just one-seventh of the total distance of 290 miles. Lordstown Motors Corp RIDE said on Sunday its electric pickup truck Endurance, which competed in the off-road desert race SCORE International San Felipe 250, failed to cross the finish line in Baja California, Mexico. ![]()
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