Lordstown Motors logo

RIDE - Lordstown Motors News Story

$9.1 -0.1  -1.1%

Last Trade - 3:26pm

Sector
Consumer Cyclicals
Size
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
 urn:newsml:reuters.com:*:nL1N2JO0B8
    ** 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)
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.