Lordstown Motors says it is running out of cash for its future development of electric vehicles and might be forced to close its doors for good within the next year.
On Tuesday, Lordstown Motors warned that it was facing issues with cash flow and that there is “substantial doubt” about the company’s ability to remain open over the course of the next twelve months. The news sent shares down around 20% during midday trading on Wednesday, CNN says.
Lordstown Motors is based in Lordstown, Ohio, and the company purchased a 6.2 million square foot factory from General Motors in 2019. In addition, the company promised that it would pay union-level wages to workers when it starts manufacturing the Endurance pickup, the truck it planned to release according to a June 2020 unveiling event. The Endurance was set to start at $52,500 and give 250 miles of range with 600 horsepower and 7,500 pounds of towing capacity, but the company’s financials don’t give the Endurance much of a chance of making it to the production and delivery stages.
Lordstown Motors wants to join the electric pickup truck market too
Lordstown’s most recent filing said it had $259.7 million in cash on hand. However, this was as of March 31st, and the company posted a loss of over $125 million in Q1 2021, making it substantially difficult to see how the company could continue to operate without sizeable financial backing or assistance at the hands of its large-scale investors, a move that the company admitted it is making currently.
According to the filing, Lordstown said that its doors staying open “is dependent on its ability to complete the development of its electric vehicles, obtain regulatory approval, begin commercial-scale production and launch the sale of such vehicles.” It plans to begin manufacturing the Endurance pickup in September.
After production begins, Lordstown will have to navigate through a highly competitive and quickly-growing sector of companies that are beginning to offer electric trucks. This year alone, two new electric pickups will enter the market: Rivian’s R1T pickup will begin deliveries in July, while the Tesla Cybertruck will begin production and should complete some deliveries by the end of 2021. Additionally, legacy automaker Ford has electrified its F-150, the best-selling pickup in the United States. The F-150 Lightning has accumulated a substantial number of pre-orders at over 70,000, while the Cybertruck is sitting well ahead with 1,000,000 orders.
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Lordstown’s struggling financials were highlighted earlier this year when Hindenburg Research released a report that put the company’s contracts into question. Hindenburg commented on the reports of Lordstown’s financial situation on Tuesday:
“After months of denials, Lordstown is finally beginning to acknowledge its precarious financial state and that its earlier production projections were nowhere close to reality.”
CNN said that Sears also released a similar filing in 2017 that used the same language. The company eventually filed for bankruptcy and only has a small percentage of its stores operating to this day.
Tesla is launching its solution to end Supercharger fights once and for all, eliminating any confusion on who is to charge next at a congested location.
Last year, a notable incident at a Tesla Supercharger led to a fight, and it all stemmed from a disagreement over who arrived at the location first.
Congestion at Tesla Superchargers is a pretty infrequent occurrence for most of us, but there are more congested and popular areas where wait times can be extensive. An unfortunate growing pain of EV ownership is the plain fact that chargers are not as available as gas pumps, and there are, at times, lines to charge.
This can cause tensions to flare and people to get entitled when visiting Superchargers. Nobody wants to spend hours at a Supercharger, but now, there will be no more confusion when there is a queue, and that’s thanks to Tesla’s new Virtual Queue for Superchargers.
Tesla is finally starting to build out the Virtual Supercharger Queue, according to Not a Tesla App, but it still relies on drivers to make it work.
When a driver is near a Supercharger that is full, a message will pop up on the Tesla App, using the driver’s location to determine their eligibility to join the virtual queue.
The app states:
“While the app is closed, Tesla uses your location to notify you of accurate wait times at Superchargers when you arrive.”
Another message within the app states:
“There is a waitlist to charge. Are you sure you want to start a charging session now?”
This sounds as if it will require drivers to act appropriately and only plug in when the app prompts them to do so, by letting them know it is their turn.
The app will notify the driver of their position in the queue, as well as how many vehicles are ahead of them.
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The company announced a while back that it would be working on a solution for this issue. Personally, I’ve only had to wait at a Supercharger for a charge on one occasion, and there was a line of between 3 and 10 cars during this singular occurrence.
I’m out at the Lancaster, PA Supercharger and showed up with a queue of three vehicles.
It’s now up to five and there have been several issues with order of arrival and confusion about who is first.
Any update on Supercharger queue? @elonmusk @aelluswamy @r_jegaa
— TESLARATI (@Teslarati) January 31, 2026
There were no conflicts or arguments about who had arrived first, but there was some discussion between several drivers during my time there about who was to charge first. Throw a non-Tesla EV into the mix, one that can only charge at a pull-in spot, and that causes even more of a complication.
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Tesla offers awesome Free Supercharging incentive on an unexpected vehicle
In the past, Tesla has used Free Supercharging to incentivize the purchase of its expensive vehicles, like the Model S and Model X. However, those vehicles are leaving the company lineup, and Tesla saw a benefit from applying the incentive to another car.
Tesla is offering an awesome new Free Supercharging incentive on a vehicle that is sort of unexpected.
In the past, Tesla has used Free Supercharging to incentivize the purchase of its expensive vehicles, like the Model S and Model X. However, those vehicles are leaving the company lineup, and Tesla saw a benefit from applying the incentive to another car.
Tesla North America has introduced a compelling new incentive aimed at boosting Model 3 sales. Starting with orders placed on or after April 24, buyers of the Model 3 Premium (Long Range) and Performance variants in the United States will receive one full year of complimentary Supercharging.
The offer applies exclusively to new vehicle orders and does not extend to existing owners or other trims like the base Rear-Wheel Drive model.
New orders of Model 3 Premium & Performance now come with 1 year of free Supercharging 🇺🇸
Also, all Teslas pay the lowest Supercharging rates – all others pay a ~40% premium or need a subscription
— Tesla North America (@tesla_na) April 24, 2026
The announcement underscores Tesla’s continued dominance in EV charging infrastructure.
While the incentive provides 12 months of zero-cost access to the Supercharger network, Tesla also reiterated its pricing structure: all Tesla vehicles receive the lowest Supercharging rates.
Non-Tesla EVs, by contrast, pay approximately 40 percent more per kWh or must purchase a subscription to access the network at standard rates. This tiered approach highlights the strategic value of owning a Tesla, where seamless integration with the world’s largest and most reliable fast-charging network remains a key differentiator.
For prospective buyers, the savings can be substantial. Depending on driving habits, a typical Model 3 owner might log 12,000–15,000 miles annually.
With average Supercharging costs around $0.40–$0.50 per kWh, one year of free sessions could translate to $800–$1,200 in avoided expenses.
That effectively lowers the total cost of ownership and makes long-distance travel more affordable from day one. Early delivery customers have already noted similar past incentives, with one Cybertruck owner reporting over $2,400 saved in just six months under similar offers that Tesla has deployed in the past.
The timing of the offer appears strategic. Tesla faces growing competition from other automakers expanding their own charging networks and offering aggressive EV incentives.
By bundling free Supercharging rather than discounting the vehicle’s MSRP, Tesla preserves perceived value while directly addressing one of the biggest barriers for new EV adopters: charging costs and convenience.
The move also encourages higher-mileage use of the network, generating valuable real-world data for Tesla’s autonomous driving development.
Why Tesla would apply this incentive to the Model 3 is pretty interesting. It usually is a pretty good incentive to move units out the door, so there’s some speculation whether Tesla is planning to launch new upgrades to the mass-market sedan in the coming months, and the company wants to move what will be outdated units from its inventory.
However, there is also just the idea that Tesla could be attempting to stimulate some early quarter demand for the Model 3, especially as the Model Y continues to sell very well. Tesla’s loss of the $7,500 EV tax credit last year had an impact on sales, and Tesla might be testing some formidable options to see if it can add some demand once again.
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Tesla Cybercab gets crazy change as mass production begins
Tesla has officially kicked off mass production of its groundbreaking Cybercab robotaxi at Giga Texas, and the first units rolling off the line feature a striking transformation that’s turning heads across the EV community.
Tesla Cybercab has evidently received a pretty crazy change from an aesthetic standpoint, as the company has made the decision to offer an additional finish on the vehicle as mass production is starting.
Tesla has officially kicked off mass production of its groundbreaking Cybercab robotaxi at Giga Texas, and the first units rolling off the line feature a striking transformation that’s turning heads across the EV community.
VIN Zero—the very first production Cybercab—showcases a vibrant champagne gold exterior with a high-gloss finish, a dramatic departure from the flat, matte-wrapped prototypes that debuted at the 2024 “We, Robot” event.
Presenting VIN Zero — the very first production Cybercab built at Giga Texas. pic.twitter.com/8bXo4CJAlr
— TechOperator (@TechOperator) April 23, 2026
This glossy sheen is a pretty big pivot from what was initially shown by Tesla. The company has maintained a pretty flat tone in terms of anything related to custom colors or finishes.
A specialized clear coat or process delivers the deep, reflective gloss without conventional painting. The result is a premium, mirror-like shine, and it looks pretty good, and gives the compact two-seater a more luxurious and futuristic presence than the subdued matte prototypes.
Photos shared by Tesla community members reveal VIN Zero in a showroom-like setting at Giga Texas, highlighting refined panel gaps, large aero wheel covers, and the signature no-steering-wheel, no-pedals interior optimized for full autonomy.
The open frunk in some images offers a glimpse of practical storage, while the overall build quality appears more polished than that of test mules.
This glossy evolution aligns with Tesla’s broader production ramp. After the first unit in February 2026, the company has shifted to volume manufacturing, with dozens of units already spotted in outbound lots. CEO Elon Musk and the team aim for hundreds per week, paving the way for unsupervised FSD robotaxi networks that could slash ride costs to pennies per mile.
The Cybercab holds Tesla’s grand ambitions of operating a full-service ride-hailing service without any drivers in its grasp. Tesla has yet to solve autonomy, but is well on its way, and although its timelines are usually a bit off, improvements often come through the Over-the-Air updates to the Full Self-Driving suite.
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Tesla launches solution to end Supercharger fights once and for all
