Lordstown Motors Announces Timing of Third Quarter 2021 Financial Results and Webcast
Lordstown Motors Corp. (Nasdaq: RIDE) will announce its third quarter 2021 financial results on November 11, 2021, after market close. A conference call is scheduled for 4:30 p.m. ET, which can be accessed via a live webcast on the Investor Relations website. Lordstown Motors focuses on electric light-duty trucks for the commercial fleet market, with the Endurance electric pickup as its flagship vehicle.
The company emphasizes its ongoing development and manufacturing processes while warning investors of challenges and risks associated with funding needs, production scaling, and supply chain issues.
- Scheduled release of Q3 2021 financial results demonstrates transparency and ongoing operations.
- Focus on electric light-duty trucks positions the company in a growing market.
- Significant risks related to liquidity and the need for additional capital.
- Challenges with production ramp-up, supply chain disruptions, and obtaining purchase orders.
- Non-binding agreement with Foxconn raises uncertainties about strategic partnerships.
LORDSTOWN, Ohio, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty trucks focused on the commercial fleet market, today announced that it will release its third quarter 2021 financial results after market close on November 11, 2021. The company will then host a conference call at 4:30 p.m. Eastern Time.
The call can be accessed via a live webcast accessible on the Events page of Lordstown Motors’ Investor Relations website at https://investor.lordstownmotors.com/. An archive of the webcast will be available shortly after the call.
About Lordstown Motors Corp.
Lordstown Motors is an Ohio-based electric vehicle (EV) innovator developing high-quality light duty commercial fleet vehicles, with the Endurance all electric pick-up truck as its first vehicle being launched in the Lordstown, Ohio facility. Lordstown Motors has engineering, research and development facilities in Farmington Hills, Michigan and Irvine, California. For additional information visit www.lordstownmotors.com.
Forward Looking Statements
This press release includes forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feel,” “believes,” “expects,” “estimates,” “projects,” “intends,” “should,” “is to be,” or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: our limited operating history and our significant projected funding needs; our liquidity position; the need to raise substantial additional capital to continue ongoing operations; risks associated with the conversion and retooling of our facility and ramp up of production; our inability to obtain binding purchase orders from customers and potential customers’ inability to integrate our electric vehicles into their existing fleets; our inability to retain key personnel and to hire additional personnel; competition in the electric pickup truck market; supply chain disruptions; the potential inability to source essential components; our inability to develop a sales distribution network; the ability to protect our intellectual property rights; and the failure to obtain required regulatory approvals. In addition, our agreement in principle with Foxconn is non-binding and subject to the negotiation and execution of definitive agreements. No assurances can be given that definitive agreements will be entered into on the terms contemplated, or at all. Nor can any assurances be given as to the timing of any such agreements. Furthermore, potential supply chain disruptions, and their consequences on testing and other activities, could present challenges that impact the timing of our commercial production. Any forward-looking statements speak only as of the date on which they are made, and Lordstown Motors undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.
Contacts:
Investors
Carter Driscoll
lordstownIR@icrinc.com
Media
Kimberly Spell
Kimberly.Spell.ext@lordstownmotors.com
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