Steve Burns, Founder of Bankrupt Lordstown Motors, Is Launching A New EV Startup Called Landx Motors

Founder of now-bankrupt Lordstown Motors, Steve Burns, has now launched his third EV company, namely LandX Motors.

What Happened: Burns previously founded two electric vehicle companies namely Workhorse Group and Lordstown Motors. According to the new company’s website, the founder is a ‘serial entrepreneur.’

LandX, as described by itself on the company website, is aimed at building all-terrain electric vehicles. The portal showcases trucks, very similar to Lordstown’s Endurance all-electric pickup truck.

The company did not immediately respond to Benzinga‘s request for comment.

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Why It Matters: Burns purchased some of Lordstown’s manufacturing assets for about $10 million via LAS Capital, another company founded by him, after it filed for bankruptcy. However, LAS Capital attorney Jennifer Madden then told Reuters that the company is not buying any Endurance trucks.

Lordstown filed for bankruptcy protection in June following a drawn-out dispute with Foxconn over a proposed investment of up to $170 million. The company subsequently commenced the sales process for its Endurance and other related assets and filed litigation against Hon Hai Precision Industry Co Ltd and its affiliate Foxconn Ventures Pte Ltd in the U.S. Bankruptcy Court for the District of Delaware.

Photo via Shutterstock.

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