The beleaguered EV startup Lordstown Motors is on track to begin production of its flagship electric truck Endurance, but only select customers will begin to receive vehicles early next year, executives said during a second quarter earnings call.
Executives struck a cautious tone in the second-quarter earnings call as they tried to assuage shareholder concerns and address the near-term realities of bringing its first vehicle to market without any revenue to offset its costs. Lordstown’s approach, at least this quarter, was to try and reduce operating costs from the previous quarter, helping it offset its increase in capital expenditures.
Lordstown reported a net loss of $108 million, a 13.7%