Lordstown Motors said Monday that despite delivery delays and larger losses than expected in Q4, it has about $220M in cash and ain't scared. Since the EV start-up went public, supply costs and challenges have made even well-established OEMs change their footing.
Lordstown is now looking at a contract with Foxconn on a new EV program while working to resolve issues with its Endurance pickup truck. To date, the brand has built around 40 trucks and delivered 6.
Volvo's new EV can build its own road...which is a fun way to say it is a cement truck. The brand sees heavy machines that spend large portions of the day idling as perfect candidates for electrification.
Last week, Volvo delivered its first FMX electric heavy-duty truck to a Berlin-based ready-mix concrete plant. The truck can do a full day's work with just one charge during a regularly scheduled break for workers.
Honda is accelerating electric vehicle development to the tune of $40B to reach 40% hybrid and BEV sales by 2030. The brand says ICE vehicles could last through 2040 or later.
The Japanese automaker will establish a standalone business unit next month. The new division will oversee all of its EV models, battery production, and a possible charging network.