#LORDSTOWN ENDURANCE WEIGHT SOFTWARE#

These statements are made under the 'safe harbor' provisions of the U.S.

This press release includes forward-looking statements. Our cash outlook is better than our previous outlook by approximately $75 million and we continue to explore opportunities for capital raising alternatives, including in connection with the initial Foxconn JV program and strategic partnerships. We now anticipate ending 2022 with approximately $110 million in cash and cash equivalents, excluding both any additional capital raises and funding of any contingent liabilities. We anticipate ending the third quarter with approximately $195 million in cash and cash equivalents, including $27.1 million of proceeds from equity issuances during the third quarter of 2022. We look forward to the judges' evaluations of the Endurance™ this fall. We are also excited to be named a semi-finalist in the North American Truck of the Year competition. We expect to deliver approximately 50 units to customers in 2022 and the remainder of the first batch in the first half of 2023, subject to raising sufficient capital.

#LORDSTOWN ENDURANCE WEIGHT SOFTWARE#

We also continue to accumulate test miles on the vehicles, finalize other certifications, and complete software updates as we work to ensure the best experience for our customers. 'Our homologation and certification processes are proceeding as planned.'įMVSS crash testing has been completed successfully, and EPA and CARB applications have been submitted.

We expect to increase the speed of production into November and December,' said Edward Hightower, Lordstown CEO and President.

'We will continue to build at a slow rate as we address remaining part pedigree and part availability issues. These vehicles are part of the first batch of up to 500 saleable vehicles that we intend to build. Lordstown is pleased to announce that our first two commercial release production (CRP) Endurance™ vehicles have rolled off the production line at the Foxconn EV Ohio plant, with the third expected to be completed shortly.

Lordstown endurance weight