Electric truck startup Lordstown
Motors warns it may go out of business
CNN Business,
by
Chris Isidore
Original Article
Posted By: NorthernDog,
6/8/2021 8:37:48 PM
Lordstown Motors, the startup electric truck maker, warned Tuesday it is close to running out of cash and may be forced out of business in the next year. The news, which sent Lordstown shares down nearly 8% in after-hours trading, is a blow to not only the company but also to the gritty industrial town from which it gets its name. For 53 years, Lordstown, Ohio, was home to a massive General Motors plant, which GM closed in 2019. (Snip) But Tuesday the startup said it no longer has enough money to start commercial production. It warned there is n
Reply 1 - Posted by:
mc squared 6/8/2021 8:45:58 PM (No. 810163)
I don't want to see anyone out of work but the country isn't ready for electrics. Did they get any of our tax money?
21 people like this.
Reply 2 - Posted by:
IowaDad 6/8/2021 8:55:38 PM (No. 810169)
Translation -- the Biden administration will drop a ton of our tax dollars into this big time loser, so it will get to be an even bigger loser.
25 people like this.
If there is a market for the electric truck, Ford is likely going to capture a large share of it with their Lightning. The F-150 is universally known and extremely popular, and the Lightning is at least set up like a work truck (unlike that goofy Tesla truck that is nothing but vaporware right now). These startups like Rivian and Lordstown are going to have a tough road surviving in a very small market.
I personally don't see a lot of desire for a truck that has to be charged for hours a day to be usable, and whos range will suffer massively with the more weight towed/carried. The infrastructure isn't in place for this outside of large cities, and that isn't where most trucks are found.
17 people like this.
Reply 4 - Posted by:
Californian 6/8/2021 9:12:17 PM (No. 810175)
Because their trucks cost way too much for what you get. There is no market for their vehicles at their price range.
Doesn't matter if the country is ready for EV or how long it takes to charge or reduced range with larger loads (which is true of gas trucks too). They just cost too much.
8 people like this.
Reply 5 - Posted by:
Rumblehog 6/8/2021 9:19:06 PM (No. 810179)
There was an eager market for electric passenger cars comprised of leftist hacks who love to virtue signal through their possessions, but trucks are whole different animal. Not too many soy boys out there yearning for a truck, since soy boys don't do hard labor. Sorry, but this whole electric truck thing is a fantasy.
22 people like this.
Reply 6 - Posted by:
Omen55 6/8/2021 9:35:32 PM (No. 810181)
Electric transport is worthless without a battery that can't go for at least a month without recharging.
Because the amount of electricity needed to charge all the cars now will need many new power plants.
That's right little lefty boys & girls the recharge is not magic😜
11 people like this.
Reply 7 - Posted by:
Lake Dweller 6/8/2021 9:42:59 PM (No. 810185)
I test drove a 2021 F150 this week. It is basically a hybrid. An expensive hybrid.
No thanks. Bought a RAM Longhorn. No battery crap.
I loved my old F150, but don’t want a company MAKING me drive a battery truck!
13 people like this.
Reply 8 - Posted by:
Plex 6/8/2021 9:44:57 PM (No. 810186)
Without nuclear power electric vehicles are environmentally worse than gas vehicles. Can’t charge your truck overnight on solar power.
8 people like this.
Reply 9 - Posted by:
Ida Lou Pino 6/8/2021 9:57:55 PM (No. 810188)
The survival of the planet - - depends on forcing people to buy vehicles they don't want.
7 people like this.
Reply 10 - Posted by:
lakerman1 6/8/2021 10:47:05 PM (No. 810205)
Why are pick up trucks so popular?
Because they are not cars! And they are powerful! And they are fun!
(I will admit that I have fond memories of my father's 1954 Dodge 100 1/2 ton pick up, where certain milestones in my life were reached. And it was just a straight 6 cylinder.)
I doubt electric pick up trucks will ever cut it. And Lordstown has bad karma - the Chevy Vega was made there.
6 people like this.
Reply 11 - Posted by:
Terry_tr6 6/8/2021 10:59:53 PM (No. 810209)
I can see a nice niche market for urban delivery vehicles where there is crazy stop and go traffic and a predictable route you can integrate with range and nightly charging back at the depot. I suspect most of these vehicles don't do that many miles considering the traffic and loading/unloading time
5 people like this.
Reply 12 - Posted by:
Lawsy0 6/9/2021 12:17:11 AM (No. 810247)
Maybe they can switch to Plan B (Solar Airlines).
4 people like this.
Reply 13 - Posted by:
formerNYer 6/9/2021 12:27:47 AM (No. 810257)
Ford take note your electric F150 is a boondoggle -- NO MORE BAIL OUTS to auto makers!
6 people like this.
Reply 14 - Posted by:
franq 6/9/2021 6:01:22 AM (No. 810321)
Not until Mr. Fusion is technically feasible.
2 people like this.
Reply 15 - Posted by:
Subsuburban 6/9/2021 6:21:18 AM (No. 810337)
This operation had "Tax drain boondoggle" written all over it. Solyndra redux.
3 people like this.
Reply 16 - Posted by:
smokincol 6/9/2021 8:21:26 AM (No. 810444)
maybe they should start making Edsels to help their business.
1 person likes this.
Reply 17 - Posted by:
Strike3 6/9/2021 8:55:10 AM (No. 810478)
Such a crying shame. I guess I will have to use my gasoline-powered Toyota for a few more years. The CEO of GM is pictured in the dictionary beside the word, "clueless."
3 people like this.
Reply 18 - Posted by:
Strike3 6/9/2021 8:58:31 AM (No. 810482)
The electric F150 will sell about as quickly as an electric Harley Davidson. Dedicated customers will say "No thank you" to both of them.
2 people like this.
Reply 19 - Posted by:
Laotzu 6/9/2021 9:22:44 AM (No. 810505)
What 5 said. The only sector to whom that truck would appeal with the painted grill that will look awful after its first trip down a dirt road would be LA/NY rappers.
0 people like this.
Reply 20 - Posted by:
DVC 6/9/2021 7:31:26 PM (No. 811125)
Electric trucks is a seriously stupid idea.
0 people like this.
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