Reuters
EV maker Lordstown backtracks to say it has no binding orders
At an Automotive Press Association event in Detroit on Tuesday, Lordstown President Rich Schmidt had said, “currently, we have enough orders for production for ’21 and ’22’… Those are firm orders we have for those two years.” However, in a filing with the U.S. securities regulator on Thursday, the company said, “although 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.” Hindenburg, which took a short position on Lordstown shares in March, alleged that the company had misled consumers and investors.