Lordstown Motors, an Ohio-based electric vehicle (EV) manufacturer, has faced another setback in its journey to bring its Endurance electric pickup truck to market. The company has announced that it will pause production due to a voluntary recall, causing a delay in the delivery of its vehicles to customers.
The news is a significant blow to Lordstown, which has been working tirelessly to launch its electric truck after going public on the NASDAQ exchange in 2020. Initially seen as a promising young EV start-up with potential in the electric pickup segment, the company has faced several costly mishaps, including an early prototype that caught fire in early 2021. The resignation of its CEO and CFO in June of that year also sparked questions about the company’s future.
See also: Lordstown starts production of the Endurance electric pickup truck
In an effort to inject life into the company and finally get the Endurance electric truck moving through production, Lordstown sold its Ohio assembly plant to Taiwanese manufacturing giant Foxconn in 2021. However, the company still needed additional investment, and after securing $50 to $75 million from Foxconn, it was able to begin production. The first batch of 500 Endurance EV trucks left the plant in November 2021.
However, Lordstown has now issued a voluntary recall, citing performance and quality issues with specific components of the Endurance EV truck. The company has filed paperwork with the National Highway Traffic Safety Administration (NHTSA) and is working with its suppliers to identify the cause of the issue and potential solutions, which may include “design modifications, retrofits, and software updates.”
See also: Foxconn invests $170M into electric truck maker Lordstown Motors
Lordstown’s CEO and president, Edward Hightower, has commented on the situation, stating that the company remains committed to resolving potential issues before resuming production and customer shipments.
The recall affects 19 Endurance EVs that are either already delivered or used by Lordstown. The company will provide a more detailed update on its upcoming earnings call on March 6, 2023.
This latest setback for Lordstown highlights the challenges faced by EV start-ups in bringing their products to market. While the demand for EVs continues to grow, it remains a highly competitive and challenging industry, with established players such as Tesla and Ford dominating the market. For Lordstown and other EV start-ups, the path to success may require overcoming numerous hurdles and obstacles before finally achieving their goals.
