exceeded the targeted sale price of $65,000. A few weeks later it became clear that the Endurance suffered from, well, a lack of endurance. At least one owner reported that the truck had lost power while driving in cold weather, prompting the company in February to issue a recall. Then on March 6, Lordstown said that if it can’t team up with an experienced automaker, it would be forced to discontinue the pickup, its only model.
The announcement raises questions about Foxconn’s nascent EV business. Lordstown was effectively saying Foxconn couldn’t keep its flagship vehicle in production despite its vast resources, its expertise in turning ideas into products and decades of wrangling global supply chains to get those products out the factory door on time and at cost. “Why does Lordstown need another strategic partner to bring the ailing project to fruition?” asks Danni Hewson, an analyst at brokerage AJ Bell.
Foxconn says that it remains committed to its EV plans and that its experience in electronics sets the stage for success in cars. But while Lordstown has pledged to continue developingwith the Taiwanese company, the track records of other potential customers suggest Foxconn remains far from realizing its e-car dreams. “You need people skilled in volume production,” says Ron Harbour, an independent industry manufacturing consultant.
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