RIDE - Lordstown Motors names CEO and chairman ahead of manufacturing ramp

Lordstown Motors ( NASDAQ: RIDE ) announced the main executives that will lead the manufacturing launch for the company.

The electric vehicle maker disclosed that Daniel  Ninivaggi was elected to serve as Executive Chairman of the Board.  In the role, Ninivaggi will focus on corporate strategy, strategic partnerships and capital raising.

Lordstown Motors ( RIDE ) also announced that President Edward Hightower has been elected to the additional role of Chief Executive Officer, effective immediately. Hightower will also continue to serve as CEO of MIH EV Design LLC, LMC's product development joint venture with Foxconn. Hightower also will step up to serve on the RIDE board.

Hightower said he just returned from two weeks in Taiwan meeting with Foxconn and exploring joint product development opportunities. "I look forward to strengthening our partnership and confirming our first vehicle program over the next several months," he stated.

RIDE made several other C-suite changes as it preps for its manufacturing phase.

Shares of RIDE rose 2.89% premarket to $1.78.

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