Lordstown Motors
EV trucksUSA
New to Unitard
π Dead / Bankrupt
PeakΒ $5 BillionToday
~-99%
from peak
- π¦Became a unicorn2020
- πPeak valuation$5 Billion β20
- πBecame a UnitardJun 2023
- πΈLast valuationWiped out
π₯ Raised & burned
$675M
Total raised
$373K/day
Burned Β· 5.0y alive
Funding: Reuters/CNBC
Current status
Chapter 11 (2023); now Nu Ride shell
The rise & fall
8 moments Β· 2018β2024The key moments, with employee sentiment along the way.
2018
2018
Founded to electrify the pickup
Steve Burns starts Lordstown Motors to build the Endurance electric truck.
Wikipedia
Oct 2020
Oct 2020
The peak: a ~$5B SPAC debut$5B
Rides the EV-SPAC wave onto public markets with the Endurance still a prototype.
CNBC
Mar 2021
Mar 2021
A short-seller pulls the thread
Hindenburg Research alleges inflated pre-orders; the CEO and CFO resign within months.
CNBC
2021β23
From the inside Β· Glassdoor reviews, 2021β23
Employees saw the credibility gap early: from 2021 on, Glassdoor advice sections repeatedly urged leadership to level with shareholders and the public, while reviews described weekend-and-overtime schedules with no extra pay, chronic indecision at the top, and spending staff considered undisciplined for a company with no revenue.
Jun 2023
Jun 2023
Chapter 11 β joins the Unitard Club π
Files for bankruptcy and sues Foxconn after the rescue partnership collapses.
CNBC
2024
2024
Survives as Nu Ride, a shell
The estate emerges from Chapter 11 as Nu Ride, a shell company pursuing litigation claims.
TechCrunch
$4.95Bof peak value erased Β· 5 years
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Lordstown Motors was a US electric-truck startup that went public via SPAC in 2020 at a valuation near $5B, promising its Endurance pickup. Production shortfalls, a damaging short-seller report alleging inflated pre-orders, and a cash crisis derailed it. The company filed for Chapter 11 in June 2023 and survives only as the Nu Ride shell entity, down roughly 99% from peak.
Source: TechCrunch/Crunchbase
Founder
- Steve Burnsfounder & CEONo public profile matched
