LORDSTOWN, Ohio (WJW) — Employees at the Lordstown Motors plant in Trumbull County are stamping out parts for the production of the company’s new electric truck, known as the Endurance.
Lordstown Motors purchased the plant from General Motors in 2019, after GM halted production of the Chevy Cruz. During a media tour of the plant on Monday, FOX 8 found a number of former GM Lordstown employees, who have made the transition from producing traditional gas powered cars to the cutting-edge production of the Lordstown electric truck.
When asked how he felt about his new job at the repurposed factory, Lordstown Assembly Director John Wood told FOX 8, “it’s absolutely incredible, absolutely incredible, like a dream come true.”
The Lordstown Motors plant is capable of producing 60,000 electric trucks a year. But there are a number of crucial questions that have not been answers by Lordstown Motors. Among the questions, will Lordstown Motors survive as a company, and will the demand for electric trucks be great enough to make the company profitable?
Outside the sprawling complex on Monday, the company invited reporters to test drive Beta models of the Endurance. While the company is promoting the reliability and performance of the pick up truck, financial analysts have raised a number of red flags about the company.
In February, some Lordstown Motors executives sold large blocks of their stock, just before the two-year start up company reported year end results that did not meet Wall Street expectations.
Earlier this month, Lordstown Motors revealed it lacked the funds to begin production, and that the company might not be able to continue as a going concern. Then last week, The company’s chief executive officer and chief financial officer resigned, amid a precipitous drop in the value of the company‘s stock for the year.
When FOX 8 asked when the company will be bringing its electric truck to the marketplace, Lordstown Motors Vice President of Engineering Darren Post would only say “the 4th quarter of this year.”
Employees who produced Chevy Cruzes until GM shut down the plant, are banking on the electric truck being the wave of the future, and keep the production lines at Lordstown running for years to come.
An optimistic John Wood told FOX 8, “lots of similarities, lots of differences, you’ll feel it when you go for a ride in the truck.”