Endurance Electric Pickup Is Coming

On Wednesday, Lordstown Motors Corporation (NASDAQ:RIDE) reported a second-quarter loss, confirming it will begin limited production of its Endurance pickup truck by the end of September. Shares rose 4.7% in after-hours trading.

Q2 Figures

The second quarter resulted in a loss exceeding $108 million, or 61 cents a share, significantly greater than last year's loss of nearly $8 million, or 11 cents a share. It ended the quarter on June 30th with $366 million in cash and equivalents, guiding the third quarter with liquidity in the range between $225 million and $275 million excluding any funds from a capital raise.

The Ohio EV startup increased its guidance on 2021 capital expenditures from the prior forecast of $250 million to $275 million to a range between $375 million to $400 million due to prepayments for hard tool purchases.

The Arrival Of Endurance

The Competitive Landscape

Electrifying Pickups Is A Big Deal

The post Endurance Electric Pickup Is Coming appeared first on IAM Newswire.

Image by
Markus Distelrath
from
Pixabay
Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.