Lordstown Motors exhibits at NTEA Work Truck Week March 9-11

LORDSTOWN, Ohio, March 2, 2022 /PRNewswire/ — Lordstown Motors Corporation. (Nasdaq: RIDE), (“Lordstown Motors” or “LMC”), a provider of electric light-duty trucks focused on the commercial fleet market, will be at booth #409 at March 9-11 Work Truck Week in Indianapolis.

Lordstown Motors Corp logo. (PRNewsfoto/Lordstown Motors Corp.)

the Ohio The manufacturer is showcasing the Lordstown Endurance full-size all-electric pickup onsite at the Work Truck Week show at the Indiana Convention Center. The truck begins production and commercial sales in the third quarter of 2022.

Work Truck Week is North America biggest work truck event. Produced annually by NTEA – The Association for the Work Truck Industryit includes Work Truck Show exhibits, education and training, the Green Truck Summit and networking.

“The Lordstown Endurance is a unique vehicle offering a superior combination of handling, traction control, torque and turning radius that we are confident will be appreciated by our fleet customers,” said Edward T. Hightower, Chairman, Lordstown Motors. “With fewer moving parts than more conventional propulsion systems, we also believe the Endurance will have total cost of ownership advantages.”

About Lordstown Motors Corp.
Lordstown Motors is an electric vehicle (EV) innovator that develops high-quality light-duty commercial fleet vehicles, with the all-electric Endurance pickup truck as its first vehicle launched in the Lordstown, Ohio establishment. Lordstown Motors has engineering, research and development facilities at Farmington Hills, Michigan and Irvine, California. For more information, visit www.lordstownmotors.com.

About NTEA
Founded in 1964, NTEA – The Association for the Work Truck Industry, a 501(c)(6) organization, represents more than 2,000 companies that manufacture, distribute, install, sell and service commercial trucks, truck bodies, truck equipment, trailers and accessories. Work truck buyers and major commercial truck chassis manufacturers also belong to NTEA. The Association provides in-depth technical information, education and member programs and services, and organizes Work Truck Week and the Green Truck Summit. The Association has its administrative headquarters in suburban Detroit and government relations offices in Washington, DC, and Ottawa, Ontario, Canada.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “believe”, “expect”, “estimate”, “plan”, “intend”, “should”, “shall be”, or the negative of these terms, or any other comparable terminology. Forward-looking statements are statements that are not historical facts. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but without limitation: the need to raise substantial additional capital well in advance of our third quarter 2022 target for the start of commercial production and sales of our vehicles, to continue ongoing operations and remain a going concern, and our ability to raise such funds in a timely manner and on appropriate terms; the cost and other impacts of litigation, regulatory proceedings, investigations, claims and/or negative publicity, which may have a material adverse effect, whether or not successful or valid, on our business prospects and our ability to obtain financing; our limited operating history and ability to execute our business plan, including through any relationship with Foxconn; our ability to raise sufficient capital in the future to invest in tooling to eventually reduce the cost of the bill of materials and make continuous improvements to the design of the Endurance and any future vehicles we may develop; the deployment of our business and the timing of anticipated commercial milestones, including our ability to complete Endurance engineering, and Endurance conversion and retooling Lordstown installation, to establish and maintain appropriate relationships with suppliers, to complete testing, type approval and certification, and to start production of the Endurance in accordance with our planned schedule; supply chain disruptions, inflation and the potential inability to source critical components and raw materials, including on a timely basis or at an acceptable cost, and their impact on testing, production, sales and other activities; our ability to obtain binding purchase orders and build relationships with our customers; our ability to meet customers’ expectations for Endurance price, performance, quality, reliability, safety and efficiency and to provide the levels of service and support they require; our ability to conduct our business using a direct sales model, rather than through a dealer network used by most other OEMs; the effects of competition on our ability to market and sell vehicles; our inability to retain key personnel and hire additional personnel; the ability to protect our intellectual property rights; failure to obtain required regulatory approvals; changes in laws, regulatory requirements, government incentives and fuel and energy prices; the impact of health epidemics, including the COVID-19 pandemic, on our business; cybersecurity threats and compliance with privacy and data protection laws; failure to implement and maintain adequate financial, information technology and management processes, controls and procedures on a timely basis; and the possibility that we will be affected by other economic, geopolitical, business and/or competitive factors. The contemplated transactions under the asset purchase agreement with Foxconn are subject to closing conditions, including continued negotiation and execution of the contract manufacturing agreement and regulatory approvals , and may not be realized. Further, no assurance can be given that LMC and Foxconn will enter into a joint or similar product development agreement, with an appropriate financing structure, or as to the terms of any such agreement. Our failure to enter into such agreements with an appropriate financing structure would likely have a material adverse effect on our ability to execute our operating plan, financial condition and business prospects. Further information about potential factors that could affect the Company’s financial results and its forward-looking statements is included in its most recent Form 10-K and subsequent filings with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement. Any forward-looking statement speaks only as of the date on which it is made, and Lordstown Motors undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

Media Contact:
Colleen Robar
[email protected]
313.207.5960

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