Lordstown Motors shares fell 10.6% in premarket trading

Tiger Newspress2021-11-12

Lordstown Motors shares fell 10.6% in premarket trading.

Lordstown Motors Corp on Thursday delayed next year's launch of its Endurance electric pickup truck by a quarter, citing parts and materials shortages and other supply-chain issues.

A day after announcing it had finalized a deal for Taiwan's Foxconn Technology Co Ltd to buy Lordstown's plant in northeast Ohio for $230 million and take over production of the Endurance, Lordstown said on Thursday it also signed a memorandum of understanding with Cox Automotive.

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