NU Ride Inc (NRDE)

[Saving Grace]

It’s unclear exactly what’s in the $10 million asset sale, because some components came from outside sources. Included presumably are all assembly lines, related machinery, and other inventory, and of course a great deal of custom software and intellectual property. The factory building, with a GM/LG Energy Solution battery plant adjacent to it, is not part of the deal.
Committed to Producing Endurance Trucks

Burns told Autoweek he’s still committed to producing Endurance trucks. “I believed then, and I believe even more today, in what we built at Lordstown. That’s why I bought back the assets and rehired most of the engineering team. The customers who have driven the Endurance this past year, including the military, have helped prove our premise sound and our critics wrong.

“Our unique hub-motor platform provides greater simplicity as well as superior traction. We intend to build several exciting vehicles on the Endurance platform and look forward to announcing our full lineup soon.”