Electric-car companies Lucid and Lordstown Motors reported full-year earnings for 2021 on Feb. 28. Lucid reduced its estimate of how many cars it would produce in 2022, while Lordstown said it would only make 3,000 cars through 2023. Both pointed to supply chain issues.
Lordstown said it had delayed capital spending on tooling for manufacturing its cars, and that it would seek additional investment from partner Hon Hai Precision Industry, better known as Foxconn. Lordstown’s shares fell nearly 13% after reporting results, while Lucid’s shares fell around 15% in early trading on 1 March.Lordstown's logo is pictured on a smartphone in front of the stock graph displayed in this illustration taken, December 4, 2021.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Electric Jeep, Electric Ram 1500, Polestar 4: Car News HeadlinesJeep's first EV, Ram's electric pickup, and spy shots of a Polestar all made headlines today.
Source: motorauthority - 🏆 61. / 68 Read more »
Game preview: Aztecs at WyomingSan Diego State faces crucial road test Monday night against Wyoming Cowboys
Source: sdut - 🏆 5. / 95 Read more »
Police: Man drives himself to the hospital after being shot during attempted carjackingThe man was shot in the face when someone tried to steal his car, police say.
Source: FOX29philly - 🏆 570. / 51 Read more »
Skoda promises distinctive new electric city car | AutocarFirm's version of Cupra Urban Rebel and VW ID 2 promises to be different Roller skate in a hideous color!
Source: autocar - 🏆 93. / 67 Read more »
Chinese electric car start-up Nio plans to list in Hong Kong on March 10U.S.-listed Nio announced plans Monday for a Hong Kong listing amid regulatory uncertainty for Chinese stock offerings overseas. boooo Start up?! Really? They sell over 100k electric vehicles a year. Ford and GM hasnt done that. Are they start ups? Wake up. China is ahead.
Source: CNBC - 🏆 12. / 72 Read more »
Motorists might catch a break: Ohio considers gas tax cut, lower hybrid registration feesProposed bill would reduce gas tax rates in Ohio and eliminate annual registration fees for hybrid and electric cars. This would be nice…and let’s keep it this way past the elections… You mean the tax increases that dewine passed? Vote for Jim Renacci. The cost of gas is much higher than the number at the gas station. 30k motor vehicle deaths per year. Inefficient land use costs municipalities and states billions. These costs are born by the public, not the user, who only pays the price at the pump. The tax should be higher.
Source: DispatchAlerts - 🏆 72. / 68 Read more »