RIDE - Lordstown Motors begins commercial production explores capital-raising options

Lordstown Motors Corp. ( NASDAQ: RIDE ) announced that it has started commercial production of its Endurance full-size pickup truck at the Foxconn EV Ohio plant.

The electric vehicle seller said production volume will ramp slowly as a result of supply chain constraints, engineering readiness, and parts availability. Sales are still expected to begin in Q4, subject to full homologation testing and the required certification.

As part of a business update, RIDE said it expects to end the quarter with a cash position of $195M and continues to explore capital raising alternatives, including in connection with initial Foxconn JV program and strategic partnership discussions.

Shares of RIDE fell 2.05% in premarket trading on Thursday.

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