You might as well stick a fork in the Lordstown Endurance as it’s done. While the automaker has already confirmed they lose money on every truck they sell, the EPA has quietly revealed the model has a disappointing range of 174 miles (280 km).
The number has been posted on Lordstown’s site for over a month, but it flew under the radar as the company’s various other troubles took precedence. However, it’s now in the spotlight and the range is less than previous estimates of 193 miles (311 km). It’s also worth noting that a few years ago, the automaker was promising a range in excess of 250 miles (402 km).
Needless to say, the truck lacks endurance as the Ford F-150 Lightning offers EPA ranges of between 240 and 320 miles (386 and 515 km). Likewise, the Rivian R1T can travel between 289 and 328 miles (465 and 528 km).
More: Lordstown Expects To End Endurance Production As It Fights Foxconn
Lordstown doesn’t list the truck’s price on their website, but the model was originally slated to start at $52,500 before incentives. However, it’s largely a moot point as the F-150 Lightning begins at $59,974 and Lordstown is staring into the abyss.
As we’ve previously reported, Foxconn is trying to bail on Lordstown as the Taiwanese tech giant claimed the beleaguered automaker was in breach of their agreement as the company’s stock price fell below the minimum required for being listed on the Nasdaq. Lordstown fired back by saying the breach allegations were without merit and Foxconn was intentionally trying to “invalidly terminate” the agreement.
The company went on to say “there is substantial doubt regarding our ability to continue as a going concern” and note their “ability to obtain additional financing is extremely limited under current market conditions.” Lordstown added they could be forced to “curtail or cease operations” and file for bankruptcy.
Shortly thereafter, a filing with the U.S. Securities and Exchange Commission revealed “Due to the production delays from early January to mid-April 2023, the failure to identify a strategic partner for the Endurance, and [our] extremely limited ability to raise capital in the current market environment, we anticipate production of the Endurance will cease in the near future.”
Since those developments, Lordstown did a 1:15 reverse stock split to boost its stock price in “order to satisfy Nasdaq’s $1.00 minimum bid price requirement.” This occurred a little over a week ago and the stock is now hovering at $3.24 per share.
