After a small earthquake at Lordstown Motors earlier this week, when CEO and CFO "resign," the company's president Rich Schmidt said a little bit more about the demand for the Lordstown Endurance pickup.
He said at an Automotive Press Association event in Detroit that there is a lot of "basically binding" orders and that it's enough for production for 2021 and 2022.
"Currently, we have enough orders for production for '21 and '22. Those are firm orders we have for those two years."
"I don't know the exact facts of the legal aspect of that, but they are basically binding orders that are committed here in the last two weeks, reconfirmed orders," he added, when asked if they were binding orders. "They're pretty solid, and I think that's on the light side or conservative side." - via Automotive News
That throws new light on the situation with a high number of pre-orders that were considered doubtful.
The production is expected to start in September 2021 and probably the expected volume in 2021 is not too high. We guess that it's maybe up to a thousand.
However, judging from the initial manufacturing capacity of up to 15,000-20,000 units a year, we can guess that there must be at least 15,000 of those "firm orders".
It would be very positive news for Lordstown Motors if there really is 15,000 solid orders for the Endurance.
Gallery: Lordstown Motors Endurance
Rich Schmidt said also that the company has over $400 million. According to Bloomberg's article, it would be enough to build 15,000 trucks.
To continue, the company would need to raise additional capital, which is one of its main tasks.
Price of Lordstown Endurance goes up
The price of the pickup will start at around $55,000 according to the most recent news, which is $2,500 more than $52,500 stated initially. The increase is related to "supply chain pressures."
After deducting federal tax credit of $7,500 it would be $47,500.
Lordstown Endurance specs (Design specs):
- more than 250 miles (402 km) of range "(EPA cycle)"
- 109 kWh battery
- 0-60 mph (96.5 km/h) in 5.5 seconds (without payload) according to initial specs
- top speed of 80 mph (128 km/h)
- all-wheel drive with 4 in-wheel hub motors (Elaphe's L-1500 Endurance In-Wheel Motor) and custom in hub motor brakes; 20-inch wheels
- peak system output of 600 hp (about 440+ kW)
2,000/4,400 lb-ft (2,711/5,965 Nm) of torque (Continuous/Peak)
- AC charging (11 kW on-board charger): in 10 hours
- DC fast charging: 20-80% SOC in 30-90 minutes
- Off-board power for tools and accessory (stationary): 110/120V, 20 A (the website says also 30 A)
- seating for 5
- towing capacity up to 7,500 lbs (3,402 kg)
- gradeability at GVW: 30%
- price: around $55,000
compared to the initially expected price of $52,500 ($45,000 after deducting federal tax credit of $7,500)
- warranty: 3-years bumper to bumper; 8-years battery and hub motors