Lordstown Motors Corp. (RIDE) shares jumped 25.98% Monday after the electric truck maker said it had seen strong demand for its all-electric Endurance pickup.
The company told investors that it has nonbinding reservations for 50,000 vehicles from commercial buyers. Lordstown plans to commence production of its pickup in September 2021 before ramping up operations throughout 2022. “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,” CEO Steve Burns said.
https://finance.yahoo.com/news/lordstown-motors-soars-truck-orders-073814173.html
OK, non binding... but they should make good on some of them, eh? 1st production in 10 months from now? Maybe, maybe not. We know from experience with LAC that goal posts are not set in cement and they can be moved, but it sounds good... if sound were the ultimate measure of veracity.