Lordstown Motors Upbeat On Pickup Truck Launch, Dismissed Competitive And Regulatory Concerns: Reuters

Reuters reports that Lordstown Motors Corp's RIDE new CEO Daniel Ninivaggi shared his focus on pickup trucks amid the regulatory crackdown. The company recently experienced a significant management overhaul.
While Lordstown is working on the Endurance truck launch, Ninivaggi aims to raise further funds via other channels.
Ninivaggi dispelled concerns regarding Ford Motor Co's F F-150 Lightning electric pickup launch next spring. Ninivaggi expects demand for electric pickups to outstrip supply for a while, leaving enough business for both.
Lordstown faces multiple regulatory probes regarding its special-purpose acquisition company (SPAC) merger and vehicle preorder statements. Ninivaggi also dispelled the concerns assuring about its undisturbed launch and fundraising plans.
Price Action: RIDE shares traded lower by 1.39% at $6.40 in the premarket session on the last check Friday.

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