Lordstown Stock Surges as Vehicle Deliveries Begin

Nov 29, 2022 By MarketDepth

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Lordstown Motors electric truck

Lordstown Motors (RIDE:NYQ) has started delivering its first round of vehicles, which has caused excitement in the investor and automotive community.

The first EV being released is the Endurance which is their long-awaited pickup truck. The company has been waiting for full safety compliance in the U.S.A. before shipping the EVs to customers. They have now received full approval and the first 500 EVs are being shipped to clients from their Lordstown, Ohio facility.

Lordstown has seen its fair share of turmoil as the stock is down 50% on the year, but is up 7% intraday.

“I am very proud of the Lordstown Motors and Foxconn EV Ohio team for their hard work, grit, and tenacity in achieving this milestone. We are very excited to start delivering vehicles to our commercial fleet customers.”

Edward Hightower, Lordstown CEO and president in a statement