LORDSTOWN MOTORS GOES ASSET LIGHT, DEVELOPS SKATEBOARD TRUCKS - AUTOLINE THIS WEEK 2614

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Lordstown Motors is pivoting to an asset-light model, partnering with Foxconn for manufacturing of its Endurance pickup truck. Commercial production is slated for Q3 2022, with sales beginning in Q4. The company emphasizes its unique in-wheel hub motor technology, which provides exceptional handling, maneuverability, and a tight turning radius, even on challenging surfaces. Despite initial concerns about unsprung weight, the chassis engineering is reported to be sound. The Endurance will feature a frunk for lockable storage, eliminating the need for a bed-mounted toolbox. While the initial production run will be limited to 500 units to manage costs and implement value engineering, Lordstown aims to scale production by reducing bill of material costs. The company is also exploring future products based on Foxconn's 'Mobility and Harmony' platform, potentially developing vehicles for other OEMs and expanding into other commercial segments like vans. The Endurance is priced at approximately $63,500 with an optional package.