Nu Ride Inc.

Corporate brand

American electric-vehicle company formerly known as Lordstown Motors, associated with the Endurance electric pickup truck.

Last updated November 4, 2026

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Overview

Nu Ride Inc. is an American electric-vehicle company formerly known as Lordstown Motors Corporation. The company was established in 2018 by Steve Burns, previously the chief executive of Workhorse Group, to develop electric commercial vehicles in the United States. Its central industrial asset was the former General Motors Lordstown Assembly plant in Ohio, a facility that Lordstown Motors acquired after GM announced its closure. The company presented the plant as the foundation for a domestic electric-truck manufacturing operation and as a source of industrial employment in the Mahoning Valley. Lordstown Motors’ principal product was the Endurance, an all-wheel-drive electric pickup truck aimed primarily at commercial and fleet customers. Its most distinctive technical feature was a four-wheel hub-motor architecture, placing an electric motor in each wheel and eliminating conventional axles, differentials, and a multi-speed transmission. The configuration was promoted as a way to simplify the drivetrain and improve packaging, although the program encountered engineering, validation, funding, and production difficulties. The company initially forecast deliveries in the United States by 2020, but the launch was repeatedly delayed. Production eventually began in the third quarter of 2022 at a limited scale. The company was closely connected to Workhorse during its early development. In 2020, Lordstown paid Workhorse for rights relating to the W-15 electric pickup design and Workhorse received an equity interest. Lordstown Motors subsequently became a publicly traded company through a reverse merger with DiamondPeak Holdings, a special-purpose acquisition company, in October 2020. The transaction gave the business a reported equity valuation of approximately $1.6 billion at the time, although no financial figure is included here as a current valuation. Lordstown Motors faced growing scrutiny in 2021. Hindenburg Research alleged that the company had overstated the quantity and quality of its vehicle pre-orders, while also questioning its production timetable and corporate disclosures. The company rejected the report’s conclusions and said it would respond. The controversy contributed to regulatory inquiries and an independent investigation commissioned by the board, which concluded that the pre-order figures had been overstated in number and seriousness. A prototype fire and continuing concerns about manufacturing readiness added to the pressure. In June 2021, the company disclosed that it lacked sufficient funds to commence commercial production, and CEO Steve Burns and CFO Julio Rodriguez resigned shortly afterward. Lordstown Motors attempted to reduce its manufacturing burden through a relationship with Foxconn Technology Group. In 2021 it announced an agreement to sell the Lordstown plant to Foxconn, with Foxconn expected to become the contract manufacturer for the Endurance. The transaction closed in 2022, and the companies also established a joint venture intended to develop and produce electric vehicles. Foxconn later agreed to make an additional investment, but the relationship deteriorated. Lordstown Motors sued Foxconn in June 2023, alleging that Foxconn had not completed the promised investment, and filed for Chapter 11 bankruptcy protection. During the bankruptcy process, Lordstown Motors agreed to sell assets associated with the design, production, and sale of electric light-duty vehicles to LAS Capital, whose majority equity holder was Steve Burns. The transaction was approved in October 2023, while the bankruptcy court retained control over certain potential claims involving former directors after objections from the United States Department of Justice. The purchaser also assumed specified warranty, product-liability, and recall obligations associated with Endurance vehicles. In March 2024, the reorganized company emerged from bankruptcy under the name Nu Ride Inc., with headquarters in New York City. The Nu Ride identity therefore represents the post-restructuring corporate entity, while Lordstown Motors remains the name under which the electric-truck business was developed, financed, publicly traded, and marketed.

History

Lordstown Motors was founded in 2018 by Steve Burns, a former Workhorse Group chief executive, with the goal of producing electric commercial vehicles in the United States. Its identity was built around the former Lordstown Assembly plant in Ohio, a large factory previously operated by General Motors. After GM announced the plant’s closure, Lordstown Motors signed a purchase agreement with GM in May 2019 and became the facility’s owner on November 7, 2019. GM provided a loan of approximately $40 million to support the acquisition. The company’s first major vehicle program was derived in part from Workhorse technology. In March 2020, Lordstown Motors paid Workhorse $12 million for licensing rights connected with the W-15 electric pickup design. Workhorse received a 10 percent equity stake as part of the arrangement. Lordstown adapted the concept into the Endurance, an electric pickup aimed at commercial fleet operators. Its design used four independent wheel hub motors, an unusual architecture intended to reduce drivetrain complexity by removing traditional axles and transmission components. Lordstown Motors became publicly traded on October 23, 2020, through a reverse merger with DiamondPeak Holdings, a special-purpose acquisition company. The transaction was presented as a major financing and capital-markets milestone, with an estimated equity value of about $1.6 billion at the time. GM also released the company from mortgage obligations associated with the Lordstown factory. Lordstown then expanded its support infrastructure, including a service center in Irvine, California, announced in January 2021. The company’s public growth story came under sustained challenge in 2021. Hindenburg Research published a report alleging that Lordstown had misrepresented the scale and reliability of its vehicle orders, many of which were non-binding indications of interest without deposits. The report also questioned the company’s production schedule, vehicle testing, and aspects of its founder’s background. Lordstown said it intended to refute the report. The episode prompted an information request from the Securities and Exchange Commission and contributed to a major decline in the company’s share price. A prototype vehicle fire was also reported; Lordstown attributed that incident to human error and said corrective measures had been taken. In June 2021, Lordstown amended its annual filing to warn that it lacked the funds required to begin commercial production and faced a risk of bankruptcy. Burns and CFO Julio Rodriguez resigned on June 14. An independent investigation commissioned by the board later found that the company’s pre-order figures had been overstated in both quantity and seriousness, intensifying doubts about its earlier public claims. Daniel Ninivaggi became chief executive in August 2021, followed by Edward Hightower in July 2022. Lordstown sought a contract-manufacturing solution through Foxconn. In October 2021, it announced an agreement under which Foxconn would purchase the former GM plant for approximately $230 million and invest $50 million through a common-stock transaction. The deal closed in May 2022. Foxconn became the intended contract manufacturer for the Endurance, and the two companies formed MIH EV Design LLC to pursue additional electric-vehicle development. General Motors, which had invested $75 million in Lordstown in 2020 and had held a board seat, disclosed in March 2022 that it had sold its investment at the end of 2021. The Endurance entered limited production in the third quarter of 2022, but the company acknowledged that substantially more capital would be needed to reach its initial production objectives. Foxconn agreed in November 2022 to make an additional $170 million investment. The relationship subsequently deteriorated. Lordstown alleged that Foxconn failed to complete the investment and sued the company on June 27, 2023. Lordstown simultaneously filed for Chapter 11 protection and moved toward a sale of its assets. In September 2023, Lordstown agreed to sell assets relating to the design, production, and sale of electric light-duty vehicles in the commercial fleet market to LAS Capital for $10 million. LAS Capital’s majority equity holder was Steve Burns. The bankruptcy court approved the sale on October 18, 2023, while retaining control over certain claims against Lordstown directors after objections by the U.S. Justice Department. The transaction included vehicles, machinery, records, data, and related assets, while the buyer assumed specified warranty, product-liability, and recall responsibilities for Endurance trucks. In March 2024, the reorganized company emerged as Nu Ride Inc., headquartered in New York City. Nu Ride is therefore the post-bankruptcy corporate successor to Lordstown Motors, while the Endurance remains its defining former vehicle program.

2024
Reorganization as Nu Ride Inc.
[1]Nu Ride Inc.en.wikipedia.org
The reorganized company emerges from bankruptcy under the Nu Ride name.
2023
Chapter 11 filing and asset-sale process
[1]Nu Ride Inc.en.wikipedia.org
After suing Foxconn, Lordstown Motors files for Chapter 11 and agrees to sell its electric-vehicle assets.
2022
Foxconn transaction closes
[1]Nu Ride Inc.en.wikipedia.org
Foxconn completes its acquisition of the Lordstown plant and becomes the planned contract manufacturer for the Endurance.
2022
Endurance production begins
[1]Nu Ride Inc.en.wikipedia.org
Lordstown Motors begins limited production of the Endurance electric pickup during the third quarter.
2021
Disclosure and governance crisis
[1]Nu Ride Inc.en.wikipedia.org
Hindenburg Research questions Lordstown’s orders and production claims; the SEC requests information, and senior executives later resign.
2020
Workhorse licensing agreement
[1]Nu Ride Inc.en.wikipedia.org
Lordstown licenses intellectual property associated with the Workhorse W-15 pickup program and Workhorse receives an equity interest.
2020
Public listing through DiamondPeak merger
[1]Nu Ride Inc.en.wikipedia.org
Lordstown Motors completes a reverse merger with DiamondPeak Holdings and begins trading as a public company on Nasdaq.
2019
Acquisition of the former GM Lordstown plant
[1]Nu Ride Inc.en.wikipedia.org
Lordstown Motors becomes owner of the former General Motors Lordstown Assembly plant in Ohio.
2018
Lordstown Motors is founded
[1]Nu Ride Inc.en.wikipedia.org
Steve Burns establishes Lordstown Motors to develop American-made electric vehicles.

Products and positioning

Originally positioned as a domestic American electric-truck manufacturer focused on commercial fleets, using a former GM factory and a simplified in-wheel-motor drivetrain. After bankruptcy restructuring, Nu Ride represents the successor corporate entity rather than a broad, established consumer vehicle brand.

Electric pickup truck · 2022
Lordstown Endurance
The Endurance was an all-wheel-drive electric pickup developed for commercial and fleet customers in the United States. Its defining engineering feature was an independent hub motor at each wheel, intended to reduce the number of moving drivetrain parts by avoiding conventional axles and a transmission. The program experienced repeated schedule delays, limited production, funding shortages, and a recall involving an electrical connection that could result in loss of propulsion. Production began in the third quarter of 2022 and the vehicle program was sold during the company’s 2023 bankruptcy process.

Controversies

2021
Alleged exaggeration of orders and production readiness
Hindenburg Research alleged that Lordstown Motors had misled investors by presenting non-binding indications of interest as meaningful orders and by overstating its ability to produce vehicles on schedule. The company disputed the allegations. An independent investigation commissioned by the board later concluded that the pre-order figures had been overstated in number and seriousness.
Source
2021
Prototype vehicle fire
A Lordstown prototype caught fire during testing. The company attributed the incident to human error and said it had addressed the issue, but the event added to questions about vehicle validation and manufacturing readiness.
Source
2011
SEC opens investigation into Lordstown Motors
The U.S. Securities and Exchange Commission opened an investigation into Lordstown Motors, as disclosed by the company’s CEO. The article says the company was complying with the inquiry and its board formed a special committee to review the matter.
Source 1 Source 2

2021California service-center expansion
United States · California
The company announced a vehicle service center in Irvine to support customers in Southern California and align with the state’s electric-vehicle policy environment.
Outcome. The center was presented as Lordstown’s first service location outside Ohio; the broader commercial rollout was constrained by production and financing problems.
Source
2020Endurance launch and fleet-order campaign
United States
Lordstown promoted the Endurance as a purpose-built electric pickup for commercial fleets and publicized substantial pre-order interest as evidence of market demand.
Outcome. The order figures later became a central subject of investor criticism and an independent board investigation, which found that the commitments had been overstated.
Source

Brand decisions

2023
Recall and production halt for EnduranceOther
Background
An electrical-connection problem created a risk of loss of propulsion while driving.
Action taken
Lordstown Motors issued a recall and halted production while investigating and correcting the problem.
Aftermath
The action further limited the vehicle program shortly before the company ended Endurance production and entered bankruptcy proceedings.
Source
2023
Asset sale through Chapter 11 restructuringOther
Background
Lordstown Motors alleged that Foxconn had not completed a promised investment and faced insufficient capital to continue independently.
Action taken
The company filed for Chapter 11 and agreed to sell electric-vehicle design, production, and commercial-fleet assets to LAS Capital.
Aftermath
The bankruptcy court approved the sale in October 2023, and the reorganized company emerged in 2024 as Nu Ride Inc.
Announced asset-sale price. $10 million (September 2023 agreement)
Source
2022
Begin limited Endurance productionProduct launch
Background
After repeated development and manufacturing delays, Lordstown sought to transition the Endurance from prototype development to commercial production.
Action taken
Lordstown Motors launched production in the third quarter of 2022, with Foxconn serving as the intended contract manufacturer.
Aftermath
Production remained limited, the company acknowledged the need for substantially more capital, and the program was later discontinued and sold during bankruptcy.
Source
2021
Move toward contract manufacturing with FoxconnStrategy
Background
Lordstown Motors needed to reduce the capital burden of operating the former GM plant while preserving a path to Endurance production.
Action taken
The company announced the sale of the plant to Foxconn and planned for Foxconn to manufacture the Endurance under contract.
Aftermath
The transaction closed in 2022, but the partnership later broke down and became the subject of litigation.
Announced plant sale value. $230 million announced transaction value (2021 announcement)
Source

Recent events

2024
Nu Ride emerges from restructuring[1]Nu Ride Inc.en.wikipedia.org
Bankruptcy · Leadership change
The reorganized company emerged from bankruptcy under the name Nu Ride Inc., succeeding Lordstown Motors as the corporate entity described by the canonical Wikipedia subject.
2024
Lordstown Motors emerges as Nu Ride Inc.[1]Nu Ride Inc.en.wikipedia.org
Bankruptcy
Following its bankruptcy restructuring, Lordstown Motors emerged under the Nu Ride Inc. name with a New York City headquarters.
2023
Endurance production is halted after recall[1]Nu Ride Inc.en.wikipedia.org
Recall · Product generation
Lordstown Motors recalled Endurance trucks and paused production to address an electrical-connection problem that could cause loss of propulsion.
2023
Lordstown sues Foxconn and files for Chapter 11[1]Nu Ride Inc.en.wikipedia.org
Lawsuit · Bankruptcy
Lordstown Motors sued Foxconn over an alleged failure to complete a promised investment and entered Chapter 11 bankruptcy proceedings as part of a proposed asset sale.
2023
Endurance recall and production halt[1]Nu Ride Inc.en.wikipedia.org
Recall
Lordstown recalled Endurance trucks and paused production to address an electrical-connection problem that could cause loss of propulsion while driving.
2023
Court approves sale of Lordstown vehicle assets[1]Nu Ride Inc.en.wikipedia.org
Bankruptcy · M&A
The bankruptcy court approved the sale of Lordstown's electric commercial-vehicle assets to LAS Capital, while retaining control over certain potential claims against former directors.
2022
Foxconn becomes Lordstown manufacturing partner[1]Nu Ride Inc.en.wikipedia.org
M&A
Foxconn completed its acquisition of the former GM Lordstown plant and was expected to contract-manufacture the Endurance. The companies also created a joint venture for electric-vehicle development.
2022
Foxconn and Lordstown finalize plant transaction[1]Nu Ride Inc.en.wikipedia.org
M&A
Foxconn completed the acquisition of the Lordstown plant and entered a manufacturing and development relationship with Lordstown, including the MIH EV Design joint venture.
2022
Edward Hightower becomes chief executive[1]Nu Ride Inc.en.wikipedia.org
Leadership change
Edward Hightower was appointed chief executive as Lordstown continued efforts to industrialize and launch the Endurance.
2022
Endurance production begins amid continuing delays[1]Nu Ride Inc.en.wikipedia.org
Product launch · Product generation
Lordstown started limited production of the Endurance during the third quarter, after repeatedly postponing the vehicle's commercial launch and acknowledging the need for substantially more capital.

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