LORDSTOWN — Lordstown Motors Corp. is at CES, the annual tech industry event formerly known as the Consumer Electronics Show in Las Vegas, with its battery-powered Endurance pickup.
The truck — now in limited production — is part of the booth occupied by the Mobility in Harmony (MIH) Consortium — an open EV tech ecosystem initiated by Taiwan-based Foxconn that promotes collaboration in the mobility industry.
Foxconn, the world’s contract electronics manufacturer, acquired its EV assembly plant, the former General Motors small-car factory in Lordstown, from Lordstown Motors last year and has invested heavily into the startup, which last year shifted away from manufacturing to EV development.
“As Foxconn’s preferred vehicle development partner for North America, Lordstown Motors’ highly capable team of engineers looks forward to creating additional electric vehicles in collaboration with the MIH Consortium and Foxconn EV ecosystem,” said Edward Hightower, president / CEO, Lordstown Motors. “CES is the largest innovation show on the planet and has become the hub for technology collaboration in the automotive industry. We are proud to be there with our partners.”
Lordstown Motors is also giving pre-scheduled journalist night drives of the Endurance on the Las Vegas strip.
Production of the truck, a finalist for the North American Truck of the Year award, launched at Foxconn’s plant in the third quarter in limited numbers.
On Wednesday, the company in a regulatory filing released its latest production data.
Through Tuesday, Lordstown Motors has produced 31 vehicles for sale, of which six have been delivered to customers, according to a report with the U.S. Securities and Exchange Commission.
Of the remaining units, the Lordstown Motors plans to use about 15 for sales, demo drives, marketing and service training purposes prior to sale. The balance will be sold following completion of updates, final inspection and establishment of service arrangements to meet customer specifications, the filing states.
Lordstown Motors “expects a slow rate of production through the first quarter of 2023, with supply chain constraints, particularly with respect to the availability of hub motor components, continuing as the primary factor governing volume and timing,” the document states.
The company’s stock, traded on the Nasdaq exchange under the “RIDE” ticker, has lost about 28 percent of its value in the past month, and in December hit an all-time low of $1.01 per share. It rebounded some in the past five days, trading up about 11 percent. The stock closed Wednesday at $1.15 per share, up 1.7 percent from Tuesday.
ABOUT CES
The show changed its name to CES several years ago to better reflect the changing industry and the event, which had expanded beyond audio and video to include automotive, digital health, smart phones, wearables and other technologies.
Companies and startups will showcase innovations in virtual reality, robotics and consumer tech items to the media and others in the tech industry. The show is not open to the general public. It runs through Sunday.
Organizers say their goal is to draw 100,000 attendees. About 3,000 companies have signed up to attend, from startups to routine visitors like Facebook parent Meta.
Hightower is scheduled to speak with the media today at the show.
The Associated Press contributed to this report.
