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RIDE - Lordstown Motors News Story

$9.1 -0.1  -1.1%

Last Trade - 3:26pm

Consumer Cyclicals
Mid Cap
Market Cap £1.16bn
Enterprise Value £712.1m
Revenue £n/a
Position in Universe 2402nd / 6849

BUZZ-Lordstown Motors in advanced talks for U.S. loan for EV truck factory; shares up

Wed 13th January, 2021 12:45pm
** Shares of electric pickup truck maker  RIDE.O  up 3.3% at
$26.29 premarket 
    ** Co says it is in advanced talks with the U.S. Energy
Department for a government loan from a program to help pay for
the costs of retooling a factory to build electric trucks
    ** This also comes days after co said it has received more
than 100,000 non-binding production reservations from commercial
fleets for its EV truck
    ** RIDE CEO Steve Burns in January 2020 told Reuters co was
pursuing a $200 mln loan from the program for a former General
Motors  GM.N  factory in northeast Ohio it acquired in 2019
    ** Lordstown plans to pit its Endurance EV pickup against
competitors from other newcomers such as Rivian and Nikola
 NKLA.O , as well as GM, Ford  F.N  and Tesla  TSLA.O 
    ** RIDE shares have more than doubled in value in 2020

 (Reporting by Akanksha Rana in Bengaluru)
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