The preorders and letters of intent "continue to come in."

Lordstown Motors has recently received another Letter of Intent from a potential fleet customer, interested in the all-electric Lordstown Endurance pickup truck.

It comes from Momentum Groups, an Ohio-based fleet management specialist, which considers the purchase of 900 units. Not bad, but as we know, those are just non-binding agreements.

"Momentum Groups specializes in corporate vehicles, from ordering to disposal including purchase or lease financing options, fuel cards, maintenance programs, vehicle administrative services and driver compliance."

Jack Pyros, Momentum’s President said:

“We are thrilled to work with our neighbors at Lordstown Motors to offer this extremely efficient and powerful pickup truck to our customers, both small and large. Working together we are able to offer purchase and lease options making this low Total Cost of Ownership vehicle even more affordable.”

So far the total number of vehicles in LOIs stands at about a few thousand and includes:

If the company really hopes to produce and sell 20,000 units in 2021, it would have much more of those LOIs, as not all will translate into purchases, we assume.

Within the next several weeks, Lordstown Motors intends to unveil the pickup and hopefully reveal the specs, which will allow us to better evaluate the value proposition at the price of $52,500 ($45,000 after deducting federal tax credit of $7,500).