EV startup Lordstown Motors Corp. changed its CEO with insider and automotive business veteran Edward Hightower on Tuesday in a administration shake-up geared toward ramping up efforts to begin manufacturing of its pickup truck.
Hightower, president of the corporate since November, takes the reins from Daniel Ninivaggi who will turn into govt chairman and concentrate on partnerships and capital elevating.
The previous Ford Motor Co. and Common Motors govt takes the helm at an important time for the 4-year-old firm, which plans to begin manufacturing of its Endurance pick-up truck with Foxconn within the third quarter.
Whereas demand for electrical automobiles has surged globally, provide chain disruptions and rising materials prices have made it powerful for firms to lift output and meet red-hot demand.
Lordstown Motors has additionally struggled with funding and needed to promote sure property to Taiwan-based Foxconn in Might to safe capital important for manufacturing.
