Lordstown Motors understands that automotive engineering talent in the Detroit area is world-renowned and, with this new R&D Engineering Center, expects to access the deep automotive engineering talent pool and numerous automotive supplier partners that exist in the region. This facility will include space for vehicle inspection and benchmarking, as well as labs for testing, validation and prototyping. This week, Lordstown Motors will officially open a satellite research and development center in Farmington Hills, Michigan.Individuals interested in careers with Lordstown Motors Corp. Lordstown Motors has also engaged approximately 150 contractors. These employees are engineering the Endurance and preparing the plant for mass production. The company currently employs more than 250 individuals in the areas of manufacturing, engineering, marketing, sales, facilities, human resources, IT, supply chain, accounting and finance. Lordstown Motors expects to increase its internal headcount to 500 individuals by the end of 2020 and to 1,500 employees by the end of 2021.The Lordstown Endurance has already achieved a 5-Star crash test rating via software crash simulation. The company also expects some of these vehicles may be sent to some initial customers for their feedback. The company expects to produce 40 to 50 Beta prototype vehicles, which will be used for crash, engineering and validation testing. Lordstown Motors is also preparing to build its Beta series prototypes beginning in early 2021 using the production lines at the Lordstown, Ohio plant. Lordstown Motors is currently building and testing Alpha 2 prototypes of the Endurance, incorporating learnings from the successful Alpha 0 prototype vehicle, as the company continues to prove out its technology.Deliveries of the Lordstown Endurance are expected to begin in September 2021, with full production ramping up throughout 2022. This figure does not capture interest the company has received from organizations that are not in position to be able to place pre-orders, such as federal, state and municipal governments, and military fleets. Lordstown Motors has received approximately 50,000 non-binding production reservation s from commercial fleets for its Lordstown Endurance all-electric pickup truck, with an average order size of approximately 500 vehicles per fleet.“We continue to make significant progress across all fronts, and we are excited to reveal these developments with the investment community and future customers today,” remarked Steve Burns, Chief Executive Officer of Lordstown Motors. In lieu of providing a more immediate update through an earnings release or conference call, Lordstown Motors has disclosed updates related to demand indicators, production milestones, hiring and facilities, service and internal promotions. With the completion of Lordstown Motors’ business combination and subsequent listing on the Nasdaq occurring after the conclusion of the third quarter of 2020, the company expects to report earnings on a normal schedule commencing with year-end results for 2020. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, today announced recent commercial, operational and strategic developments, as it remains on track to begin production of the Lordstown Endurance, the world’s first full-size, all-electric pickup truck, in September 2021. 16, 2020 (GLOBE NEWSWIRE) - Lordstown Motors Corp.
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