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RIDE - Lordstown Motors News Story

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Lordstown Motors To Race Endurance Electric Pickup Truck Skateboard in San Felipe 250 Race in Baja California on April 17

Wed 17th February, 2021 12:00pm
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LORDSTOWN, Ohio, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Lordstown Motors Corp.
(Nasdaq: RIDE), (“Lordstown Motors”), a leader in electric light duty
trucks focused on the commercial fleet market, has entered the Endurance Beta
skateboard in the 2021 SCORE International San Felipe 250, part of the SCORE
World Desert Championship race series. The 290-mile single loop race will
start and finish in San Felipe, Baja California, Mexico on April 17, 2021.

By taking the Endurance to the Mexican desert race course, which is considered
one of the most grueling and punishing in the world, Lordstown Motors is
setting out to prove that the Endurance is not only one of the safest, most
efficient trucks on the planet, but also that it is the toughest, most robust
as it tackles the San Felipe Desert.

“We feel that it is quite a significant milestone for the electric vehicle
community that an electric pickup truck can compete in an environment as
demanding as Baja California,” said Steve Burns, CEO of Lordstown Motors.
“Our goal is to be the first electric vehicle to ever complete the San
Felipe 250, and with the superior traction, weight balance and advanced
software control of our hub motor-based Endurance, we are confident that we
will do just that.”

After being postponed in 2020 because of the COVID-19 pandemic, the 2021 San
Felipe 250, held in April on Mexico’s Baja California peninsula, will be the
SCORE World Desert Championship season-opener for the ninth straight season.

The Lordstown Endurance is a full-size, all-electric pickup that has a range
of 250 miles, the equivalent of 600hp and can tow up to 7,500lbs. After
successful prototype and Alpha builds, Lordstown is now building the first
Beta Endurance vehicles and is on track for start of production in September
of this year. The initial Endurance is a crew cab configuration with medium
bed length, priced at $45,000 after federal rebate.

About Lordstown Motors Corp.
Lordstown Motors Corp. is an Ohio-based original equipment manufacturer of
light duty fleet vehicles, founded by CEO Steve Burns with the purpose of
transforming Ohio's Mahoning Valley and Lordstown, Ohio, into the epicenter of
electric-vehicle manufacturing. The company owns the 785 acre, 6.2 million
square foot Lordstown Assembly Plant where it plans to build the Lordstown
Endurance, believed to be the world's first full-size, all-electric pickup
truck designed to serve the commercial fleet market. For additional
information visit www.lordstownmotors.com.

Forward Looking Statements
This press release includes forward-looking statements. These statements are
made under the “safe harbor” provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These statements may be identified by words
such as “feel,” “believes,” expects,” “estimates,”
“projects,” “intends,” “should,” “is to be,” or the negative
of such terms, or other comparable terminology. Forward-looking statements are
statements that are not historical facts. Such forward-looking statements are
not guarantees of future performance and are subject to risks and
uncertainties, which could cause actual results to differ materially from the
forward-looking statements contained herein due to many factors, including,
but not limited to: our limited operating history and our significant
projected funding needs; risks associated with the conversion and retooling of
our facility and ramp up of production; our inability to obtain binding
purchase orders from customers and potential customers’ inability to
integrate our electric vehicles into their existing fleets; our inability to
retain key personnel and to hire additional personnel; competition in the
electric pickup truck market; our inability to develop a sales distribution
network; and the ability to protect our intellectual property rights. Any
forward-looking statements speak only as of the date on which they are made,
and Lordstown Motors Corp. undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after the date of
this press release.


Carter Driscoll

Ryan Hallett


GlobeNewswire, Inc. 2021
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