© Reuters. FILE PHOTO: A Lordstown Motors signal is seen outdoors the Lordstown Meeting Plant in Lordstown, Ohio, U.S., June 21, 2021. REUTERS/Rebecca Prepare dinner(Reuters) -Lordstown Motors Corp will briefly cease manufacturing and deliveries of its pickup truck Endurance, of which it has solely made 31 items on the market, the electric-vehicle maker mentioned, citing efficiency and high quality points with some elements.
Shares tumbled 11.8% to $1.08 in early buying and selling on Thursday after the corporate additionally mentioned it could voluntarily recall 19 autos delivered to clients or getting used internally.
Lordstown had set a goal to ship 50 autos in 2022 and extra in 2023 out of the deliberate first batch of 500 items when industrial manufacturing began in September.
The corporate didn’t make it clear when it could resume manufacturing and deliveries.
Investor Foxconn, which additionally manufactures the Endurance vans, didn’t instantly reply to a Reuters request for remark.
Autos ready for cargo and in course of on the manufacturing plant will even be mounted, the corporate added.
The EV firm mentioned in January it anticipated manufacturing to be gradual via its first quarter on account of provide chain constraints, significantly with respect to the supply of hub motor elements.
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