LORDSTOWN, Ohio (WKBN) –Lordstown Motors President Steve Burns responded Monday to a report last week from Hindenburg Research.
Hindenburg called Lordstown Motors a company with no revenue and no sellable product that has misled investors.
While giving Ohio Secretary of State Frank LaRose a tour of the Lordstown Motors plant, Burns was asked about the Hindenburg Research report.
“There’s always haters. I quoted Taylor Swift to somebody the other day, ‘Haters going to hate, hate, hate, hate, hate. You gotta shake it off,'” Burns said.
Burns spent time reassuring reporters and onlookers that Lordstown Motors is for real, despite what the research firm has written.
Watch the video below to see Burns’ full interview on Monday.
“I can’t speak to the Hindenburg report but I can tell you two things: We’re at betas in 10 days and we’re going to start production of the world’s first electric pickup truck. I know I say that a lot but think about the gravity of the world’s first electric pickup truck starting right here,” Burns said.
Burns made his remarks next to the shell of what will be a beta body used to test the Lordstown Motors Endurance.
“I think there’s 2,000 of these spot welds,” Burns said.
Burns said he knew from day one that the Endurance pickup would have to compete with all the world’s best pickups when it rolled off the line for the first time.
“The highest bar there is for the modern-day pickup truck, we had to compete with that and our version 1.0. So our first vehicle has to off-road, has to haul, has to tow, has to do all the things people expect of a modern-day pickup truck,” Burns said.
Burns said the first beta will be finished in 10 to 12 days.
There are currently 500 people and 200 consultants working in the plant. He expects there to be 1,000 when production starts in September.
Burns said normally, getting a car business profitable would take $3-4 billion.
“Because we have this great plant, with the help of GM, because of our unique design in our hub motors, we’re able to get there a lot less. But still, it’s hundreds of millions of dollars that we are committing,” Burns said.