Lordstown Motors backtracks, saying it has no binding orders for electric truck

Lordstown, which is named after the former General Motors factory in Ohio that it took over after the legacy automaker pulled out, is focused on building the Endurance, an electric pickup truck mainly intended for fleet sales.

On Tuesday, a day after Lordstown’s CEO and CFO resigned amid growing doubts about the business’ viability, the company’s president, Richard Schmidt, told reporters that it had enough cash on hand to get through next May, and enough binding orders to keep production going through the end of next year, according to the Associated Press.

But on Thursday, the company clarified those statements in a filing with the Securities and Exchange commission.

“Although these vehicle purchase agreements provide us with a significant indicator of demand for the Endurance, these agreements do not represent binding purchase orders or other firm purchase commitments,” the filing said. “We have engaged in limited marketing activities and we have no binding purchase orders or commitments from customers.”