Endurance electric pickup maker files for bankruptcy

June 28, 2023

Hopes to sell Endurance platform

Lordstown Motors, maker of the Endurance electric pickup truck, has filed for bankruptcy. It plans to sell off its Endurance platform and the intellectual property behind it.

The move follows refusal by its investment partner, Foxconn Technology, to continue putting money into the company. Lordstown has filed suit against Foxconn.

Lordstown will market the Endurance pickup as “a fully homologated and certified, production-launched vehicle that can serve as a springboard for the right OEM or other strategic purchaser into the broader North American EV full-size truck market at a fraction of the cost and time it would take to develop a program from the ground-up,” according to a press release.

According to the Wall Street Journal, Lordstown contacted 50 potential investors and strategic partners without success.

“We remain confident that an orderly, expedited sale process will maximize value for our stakeholders and enable the talent and technology behind the Endurance to find new and supportive ownership,” said Edward Hightower, president/CEO.

About the Author

Rod Sutton

Sutton has served as the editorial lead of Construction Equipment magazine and ConstructionEquipment.com since 2001.

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