Every EVXL story tagged “Lordstown Motors” — newest first.
I’ve been tracking Foxconn’s EV strategy since they first announced their ambitions to become the “Android of electric vehicles.” So when I saw the news that their joint venture Foxtron is acquiring Taiwan’s Luxgen brand for just $25 million, my first thought was: this doesn’t add up. Not because the deal doesn’t make sense, but…
The founders of Harbinger Motors have watched EV startups collapse from the inside. Now FedEx is betting they learned the right lessons. Harbinger Motors, a medium-duty electric truck chassis maker led by veterans of failed EV companies Faraday Future, Canoo, and CODA, just closed a $160 million Series C funding round co-led by FedEx. The…
Chinese-owned electric vehicle maker Polestar announced a reverse stock split on Wednesday as the struggling automaker fights to maintain its Nasdaq listing while reporting a widening third-quarter net loss of $365 million—up from $323 million in the same period last year. The financial engineering maneuver comes as the Geely-backed EV maker faces a perfect storm…
Rivian Automotive posted better-than-expected third-quarter earnings Tuesday, reporting a narrowed adjusted loss and positive gross profit for the second time this year. But the electric vehicle maker’s stock surge couldn’t mask the harsh reality waiting just beyond the quarterly numbers: October EV sales plummeted 43% compared to the same month last year, according to automotive…
Rivian CEO RJ Scaringe sent an internal memo to employees Thursday announcing the company’s third workforce reduction in four months, cutting roughly 600 jobs as the electric vehicle maker struggles with collapsed post-tax-credit demand. The carefully worded message emphasized “structural adjustments” for the upcoming R2 launch while conspicuously avoiding the financial crisis threatening the comp
Bollinger Motors, a Michigan-based electric vehicle (EV) startup focused on commercial trucks, has been placed into receivership following a court ruling, signaling severe financial distress for the company that raised $148 million but produced only 40 trucks. According to Automotive News, a Michigan judge granted founder Robert Bollinger’s request to freeze the company’s assets after…
Donald Trump’s recent softening of his stance on electric vehicles (EVs) has raised eyebrows in the industry, but experts remain skeptical about any significant policy changes. According to a recent report from Politico, Trump’s newfound appreciation for EVs seems more tied to Elon Musk’s endorsement than a genuine policy shift. From “Lunacy” to “A Very…
The Rise, Fall, and Rebirth of an EV Dream In an intriguing turn of events, Steve Burns, the controversial founder of the now-bankrupt electric vehicle (EV) startup Lordstown Motors, has launched a new venture named LandX Motors. This new company raises eyebrows as it prominently features the electric pickup truck Burns had once ambitiously promised…
One email. Six stories. Filed each morning before the world is. Read by Tesla owners, Rivian preorder holders, dealer GMs, and the analysts that move EV stocks.
