Day: June 17, 2021

Never mind: Lordstown says ‘solid’ order figures aren’t actually solid

The Lordstown Motors saga continued Thursday with a new regulatory submitting acknowledging that the electric startup does not essentially have any binding orders for its trucks, contradicting — in the space of 48 hours — corporation President Prosperous Schmidt’s assurances that the corporation experienced in essence now offered all of the vehicles it strategies to develop in 2021 and 2022. 

“Whilst these auto acquire agreements provide us with a sizeable indicator of need for the Endurance, these agreements do not depict binding acquire orders or other agency acquire commitments,” the corporation claimed in a submitting with the U.S. Securities and Trade Fee.

In other text, when Schmidt told the Automotive Push Association in Detroit on Tuesday that the corporation experienced “ample orders for generation for ’21 and ’22” and that these orders were being “agency,” he was, at greatest, just improper. “I never know the correct info of the legal

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