In a bold announcement, start-up Faraday Future (NASDAQ: FFIE) -- which bills itself as not just an electric vehicle (EV) maker but a "global shared intelligent electric mobility ecosystem company" -- announced today that it has secured enough cash to begin production of its long-awaited FF 91 electric SUV. In contrast, rival EV makers Lordstown Motors (NASDAQ: RIDE) and Nio (NYSE: NIO) are down 2.7% and 4%, respectively. With no sales to its name, and consequently no revenue or profits, Faraday isn't in a position to fund its own growth just yet.
Lordstown Motors Corp. (RIDE) closed the most recent trading day at $1.15, moving +1.77% from the previous trading session.
LORDSTOWN, Ohio, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Lordstown Motors Corp. (Nasdaq: RIDE), (“Lordstown Motors” or the “Company”), an original equipment manufacturer (“OEM”) of electric light duty vehicles focused on the commercial fleet market, today announced that the Lordstown Endurance™ full-size battery-electric pickup truck will be at CES in the Mobility in Harmony (MIH) Consortium Booth in the West Hall Booth 5274. The light-duty truck, a finalist for the North American Truck of the Year co