Delivery Risk: Chapter 11 bankruptcy filed June 2023. Company dissolved.

Prototype Status: Had EPA/CARB certified production vehicles. ~50 built at Foxconn Ohio plant.

Funding: Raised $1.6B+ via SPAC. Burned through all of it. SEC fraud charges filed.

⚠️ Timeline Alert: Lordstown Motors filed for Chapter 11 bankruptcy in June 2023 after burning through $1.6B+ raised via SPAC. Only ~50 Endurance trucks were ever built. The SEC charged the company and founder Steve Burns with securities fraud. Burns bought back the assets for ~$10M and launched LandX Motors in Jan 2024, but LandX has shown no production progress.

Key Specifications

Price

$65,000

Range

250 miles (EPA est.)

Horsepower

440-550 hp

0-60 mph

5.5-6.3 sec

Battery

109 kWh

Top Speed

118 mph

Vehicles Built

~50

Total Raised

$1.6B+ (SPAC)

Perfect For / Not Great For

Ideal Use Cases

Case Study in SPAC Failure

★★★★★ The definitive cautionary tale of EV SPAC mania — fraud charges, factory sale, bankruptcy

Hub Motor Innovation

★★★★☆ The Endurance's in-wheel hub motor design was genuinely innovative, even if the company failed

Not Recommended For

Everything

☆☆☆☆☆ Company is bankrupt. No sales, service, or support available.

Company Health & Production Status

Production Progress: BANKRUPT. Chapter 11 filed June 2023. Only ~50 Endurance trucks were ever built at the Foxconn Ohio plant. SEC charged company with securities fraud. Factory sold to Foxconn for $280M. Founder Steve Burns launched LandX Motors with purchased assets but has shown zero production progress.

Overall Progress: 0% - Bankrupt. Founder's LandX Motors revival shows no progress.

Metric	Status	Risk Level
Company Status	❌ Chapter 11 Bankruptcy (Jun 2023)	🔴 Dead
Factory	❌ Sold to Foxconn for $280M	🔴 Dead
SEC Status	❌ Fraud charges against company & founder	🔴 Critical
LandX Revival	⚠️ Assets purchased for ~$10M, no production	🔴 High

Pricing Breakdown

Trim	Price
Endurance	$65,000 (no longer available)

Note: Company is bankrupt. The Endurance cost far more to build than its $65K price tag. Vehicles are no longer available.

The Reality Check

What's Going Right:

Innovative in-wheel hub motor design eliminated traditional drivetrain
Achieved full EPA and CARB certification — the Endurance was a real, homologated vehicle
Actually built ~50 production vehicles at the Foxconn Ohio plant
Had genuine commercial fleet interest before the fraud allegations derailed everything
8-year/100,000-mile battery warranty was competitive

Red Flags:

SEC charged company and founder Steve Burns with securities fraud — falsified preorder numbers
Burned through $1.6B+ in SPAC funding and went bankrupt
Only ~50 vehicles ever built despite massive capital raise
Cost to build each truck far exceeded the $65K retail price
Factory sold to Foxconn for $280M just to stay afloat, then still went bankrupt
Trucks were recalled shortly after production began
Founder Burns bought back assets for ~$10M and started LandX — same person, same product
LandX has no factory, no production timeline, and no public funding as of 2026

Timeline & Milestones

2024-01

LandX Motors Launched
Founder Steve Burns launches LandX Motors after purchasing Lordstown's assets for ~$10M through holding company LAS Capital. Plans to revive the Endurance platform under a new name. No factory or production timeline announced.

2024-02

SEC Charges Filed
SEC formally charges Lordstown Motors and Steve Burns with misleading investors about preorder numbers and production readiness. SEC seeks $45M in penalties.

2023-06

Chapter 11 Bankruptcy Filed
Lordstown Motors files for Chapter 11 bankruptcy protection, citing disputes with Foxconn and inability to fund continued operations.

2023-03

First Customer Deliveries (~50 trucks)
Lordstown achieves EPA/CARB certification and begins delivering Endurance trucks to customers. Approximately 50 vehicles built before bankruptcy.

2022-09

Production Begins at Foxconn Ohio
Limited production starts at the former GM Lordstown Assembly plant, now owned and operated by Foxconn. Trucks quickly recalled.

2022-05

Factory Sale to Foxconn Closes
Foxconn completes $280M purchase of Lordstown's factory. Lordstown becomes a contract manufacturer customer of Foxconn.

2021-06

CEO/CFO Resign Amid Fraud Probe
CEO Steve Burns and CFO Julio Rodriguez resign after internal investigation confirms inflated preorder claims. SEC investigation ongoing.

2020-10

SPAC Merger Completes — Listed on NASDAQ
Lordstown goes public via SPAC merger with DiamondPeak Holdings. Raises $1.6B+. Claims 100,000+ preorders (later proven to be inflated).

2020-06

Endurance Prototype Unveiled
Lordstown unveils the Endurance pickup truck prototype at the former GM plant. Vice President Mike Pence attends the event.

2019-11

Acquires Former GM Lordstown Plant
Lordstown Motors purchases the shuttered GM Lordstown Assembly plant in Ohio for approximately $20M.

2018

Company Founded
Steve Burns founds Lordstown Motors Corp. after leaving Workhorse Group. Plans to build a full-size electric pickup for commercial fleets.

🔮 Bottom Line

Lordstown Motors is arguably the biggest cautionary tale of the EV SPAC era. The company raised $1.6B+ going public, claimed 100,000+ preorders that were largely fabricated, sold its factory to Foxconn just to stay alive, and still went bankrupt after building only ~50 trucks.

The Endurance itself was genuinely innovative — its in-wheel hub motors eliminated the traditional drivetrain — and it actually achieved full EPA/CARB certification. But the company was built on inflated claims, leading to SEC fraud charges against both the company and its founder.

Steve Burns buying back the assets for ~$10M to start LandX Motors is either audacious entrepreneurship or the ultimate cautionary flag. LandX has no factory, no production timeline, and the same person at the helm who led Lordstown into fraud charges. Our Recommendation: Stay far away. Score: 0/10.

Lordstown Endurance