The Rise, Fall, and Rebirth of an EV Dream
In an intriguing turn of events, Steve Burns, the controversial founder of the now-bankrupt electric vehicle (EV) startup Lordstown Motors, has launched a new venture named LandX Motors.
This new company raises eyebrows as it prominently features the electric pickup truck Burns had once ambitiously promised would outrun industry giants like Tesla, Ford, and General Motors in the EV market, explains TechCrunch.
LandX Motors – A Fresh Start with a Familiar Design
LandX Motors emerges from the shadows of Lordstown’s Chapter 11 bankruptcy, with Burns acquiring a significant portion of its assets. The company’s website and promotional video subtly showcase EV trucks bearing the Lordstown badge, suggesting a continuation of Burns’ original vision.
Interestingly, LandX Motors doesn’t directly refer to these trucks as the “Endurance” – the model name used at Lordstown. Instead, it emphasizes a broader aim to revolutionize mobility with a range of vehicles built upon the Endurance’s foundational platform.
The Unanswered Questions
Despite the optimistic front, LandX Motors has yet to address key challenges that led to Lordstown’s downfall. The production cost of the trucks notably exceeded the planned $60,000 retail price, a financial hurdle Lordstown couldn’t overcome.
Furthermore, the new company remains silent on crucial details like manufacturing logistics, leaving industry observers skeptical about the feasibility of Burns’ renewed ambitions.
A Pattern of Persistence and Controversy
Steve Burns – A Persistent Visionary
Steve Burns’ journey in the EV industry is marked by persistence and controversy. Before founding Lordstown Motors in 2019, he left Workhorse, another struggling EV startup, taking with him the designs for a pickup truck project that evolved into the Endurance.
His strategy of acquiring assets from failed ventures to fuel new ones raises questions about his long-term vision and credibility, especially given the federal investigations and financial discrepancies associated with his past endeavors.
A Team Reunited
Burns’ new venture, LandX Motors, isn’t just a rebirth of a product but also a team. The majority of LandX employees are Lordstown Motors alumni, including key executives. This reunion of familiar faces adds a layer of complexity to the narrative, blending past experiences with new challenges.
A Future on the Horizon or a Repeat of the Past?
LandX Motors stands at a crossroads, embodying Steve Burns’ undeterred ambition in the face of adversity. The company’s success hinges on addressing the financial and logistical shortcomings that plagued Lordstown Motors.
As Burns reenters the EV market with a team of former colleagues and a truck we’ve seen before, the industry and consumers alike watch with a mix of hope and skepticism.
Will LandX Motors pave a new path in the EV landscape, or will it tread the familiar, troubled tracks of its predecessor? Only time will tell.