{"id":277838,"date":"2021-06-17T21:13:51","date_gmt":"2021-06-17T18:13:51","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ev-startup-lordstown-backtracks-now-says-it-has-no-binding-orders\/"},"modified":"2021-06-17T21:13:51","modified_gmt":"2021-06-17T18:13:51","slug":"ev-startup-lordstown-backtracks-now-says-it-has-no-binding-orders","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ev-startup-lordstown-backtracks-now-says-it-has-no-binding-orders\/","title":{"rendered":"#EV startup Lordstown backtracks, now says it has no binding orders"},"content":{"rendered":"

“#EV startup Lordstown backtracks, now says it has no binding orders<\/strong>”<\/p>\n

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Electric-truck maker\u00a0Lordstown\u00a0Motors , which recently raised concerns about its ability to remain in business, on Thursday backtracked from earlier comments made by the startup\u2019s president and said it has no binding purchase orders.<\/p>\n

At an Automotive Press Association event in Detroit on Tuesday,\u00a0Lordstown\u00a0President Rich Schmidt had said, \u201ccurrently, we have enough orders for production for \u201921 and \u201922\u2019\u2026 Those are firm orders we have for those two years.\u201d<\/p>\n

However, in a filing with the U.S. securities regulator on Thursday, the company said, \u201calthough these vehicle purchase agreements provide us with a significant indicator of demand for the Endurance, these agreements do not represent binding purchase orders or other firm purchase commitments.\u201d<\/p>\n

Shares of the company, which have fallen more than 46 percent this year, were down 1.2 percent at $10.65 in early trading.<\/p>\n

On Monday, just days after the company said it may not have enough money to stay in business over the next year, Chief Executive Officer Steve Burns and Chief Financial Officer Julio Rodriguez resigned.<\/p>\n

The resignations followed the company\u2019s reports of conclusions from an internal investigation into claims made by short-seller Hindenburg. Hindenburg, which took a short position on\u00a0Lordstown\u00a0shares in March, alleged that the company had misled consumers and investors.<\/p>\n

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\"Then
Then Lordstown CEO Steve Burns (right) shows off the electric truckmaker\u2019s Endurance truck to then President Donald Trump in front of the White House in September 2020. <\/figcaption>
Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n

Although\u00a0Lordstown\u00a0declined Hindenburg\u2019s accusations of overstating the viability of its technology<\/a> and misleading investors about production plans, the company acknowledged that it overstated the quality of pre-orders for its electric truck.<\/p>\n

In a filing on Thursday, the company said it pushed its annual meeting of stockholders to Aug. 19 from June 17.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#EV startup Lordstown backtracks, now says it has no binding orders” Electric-truck maker\u00a0Lordstown\u00a0Motors , which recently raised concerns about its ability to remain in business, on Thursday backtracked from earlier comments made by the startup\u2019s president and said it has no binding purchase orders. At an Automotive Press Association event in Detroit on Tuesday,\u00a0Lordstown\u00a0President Rich…<\/p>\n","protected":false},"author":1,"featured_media":277839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/06\/ev-startup-lordstown-backtracks.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[109650,100599,73710,70462],"class_list":["post-277838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-17-21","tag-auto-sales","tag-automotive-companies","tag-electric-cars"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/277838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=277838"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/277838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/277839"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=277838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=277838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=277838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}