Lordstown Motors will be tradable on the Nasdaq starting this week. That makes the manufacturer known. With the share issue, Lordstown says it has raised enough money to start production of the Endurance, the electric pick-up that the brand is developing.
Lordstown will be launched under the name ‘RIDE’ on the American stock exchange Nasdaq. Currently the price of this is converted at € 16.06 per share. All in all, Lordstown has been able to raise approximately $ 675 million (€ 571 million) thanks to this move. The sum will be used to prepare the former GM factory in the city of Lordstown for the production of the Endurance, the brand’s electric pick-up.
Founder and CEO Steve Burns is pleased with this step. He says his company is on track to be able to produce and deliver the Endurance in the second half of 2021. In the US, this EV must cost € 44,850 converted. Lordstown promises a power of over 600 hp, a maximum towing weight of 3,400 kg and a range of 250 miles (402 km), but detailed specifications are not yet available. However, US President Donald Trump has already expressed his approval.