Founded in 2018 by Steve Burns, a former CEO of Workhorse Group, Lordstown Motors emerged from a unique opportunity: the sale of General Motors’ manufacturing facility in Lordstown, Ohio. As negotiations unfolded, they were influenced by President Trump’s support for the deal, which proceeded even before Burns secured financing or finalized the company’s name.

The ambition behind Lordstown Motors was to produce an innovative electric truck featuring motors attached to each wheel hub. Unfortunately, the new venture faced significant operational hurdles right from the start.

In 2021, a report from short-seller Hindenburg Research accused the company of inflating its order numbers for the electric truck. By the end of 2022, when production commenced, only 31 trucks were produced, with just two dispatched to customers in the subsequent quarter.

By June 2023, Lordstown filed for Chapter 11 bankruptcy protection, only to re-emerge in March 2024 under the new identity: Nu Ride Inc., exploring potential partnerships for further business ventures. According to its latest quarterly report, the company reported total assets of $58,251 against liabilities of $15,247.

Currently, the only updates from the company pertain to a legal dispute with Foxconn, the renowned manufacturer of Apple’s iPhones. Lordstown has accused Foxconn of providing misleading information regarding a proposed collaboration to develop a line of electric vehicles.