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Lordstown now says it has no binding purchase orders from customers

Lordstown Motors, which not long ago lifted considerations about its means to continue to be in organization, stated on Thursday it did not have any binding obtain orders or commitments from prospects.

The U-change comes following President Loaded Schmidt on Tuesday stated at an Automotive Press Affiliation party in Detroit the firm had organization and binding orders for the first two several years of output of its electric powered pickup truck.

“While these car obtain agreements supply us with a major indicator of need for the Endurance, these agreements do not characterize binding obtain orders or other organization obtain commitments,” the firm stated in a submitting with the U.S. securities regulator.

Shares of the firm fell 2.5 percent to $ten.51 in morning trading.

On Monday, just days following the firm stated it may well not have plenty of cash to keep in organization over the future yr, CEO Steve Burns

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