Lordstown Motors Corp. acknowledged in a Thursday filing that the order for an electric pickup truck “does not represent a binding purchase order or other firm purchase agreement.”
In the noon trading on Thursday, the stock price fell 0.8%.
The company tried to step back from executive comments at the event on Tuesday. There, they characterized the order as strong.
The agreement is a “significant indicator of demand” for trucks called endurance, but it is not binding, Rosetown said.
“Limited marketing activities so far, as previously disclosed in Form 10-K / A for the year ended December 31, 2020, submitted to the Securities and Exchange Commission on June 8, 2021. Engaged in and has no binding purchases. Orders or commitments from customers “said Lordstown. Filing.
Lordstown with its founder earlier this week Chief Executive Officer and Founder Steve Burns and Chief Financial Officer Julio Rodriguez have resigned. Interim executives have been appointed. The plan to start “limited production” of electric trucks in late September was repeated.
Lordstown: Ordering Electric Pickup Trucks “Non-binding”
Source link Lordstown: Ordering Electric Pickup Trucks “Non-binding”