For example, it claims Burns paid consultants for every truck pre-order as early as 2016. Later, a small consulting group was paid to generate pre-orders. More recently, a two-person startup operating out of a virtual office with a UPS Store mailing address in Texas placed an order for 1,000 trucks totaling $52.5 million. Hindenburg spoke to its owner who admitted it won't actually order any vehicles, claiming the "pre-order" is just a marketing relationship. Another company supposedly committed to 500 trucks said the letters of interest are non-binding, meaning there's no firm commitment to buy. Burns, however, referred to these agreements as "very serious orders."
Lordstown, whose stock dropped 16 percent following the release of the Hindenburg report, promised late Friday it will share "a full and thorough statement in the coming days, and when we do we will absolutely be refuting the Hindenburg Research report."
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March 14, 2021 at 05:06PM
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Lordstown Motors Accused Of Faking Pre-Orders - CarBuzz
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