Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Lordstown Motors is on track to begin pre-production of its truck builds in July. The company noted in its first-quarter earnings report that 48 out of 57 truck prototypes were already constructed. 


The company noted that it had completed the frontal and lobe crash tests in a statement on May 24. Moreover, the vehicles performed as planned during other durability and validation tests. 


In Q1 2021 Lordstown’s retooling of stamping, assembly, body, and paint shops at its plant was almost complete. Lordstown also reported that phase one of the battery line is being commissioned and their first electric hub motor line is on track for the start of equipment installation in July. 


During the first quarter, the truck maker’s operating expenses increased to $106.2mn from $12mn within the same period of the previous year. The calculated net loss rose from $11.9mn in Q1 2020 to $125.2mn at the end of the same quarter this year.


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