What’s next for Lordstown (RIDE) after NASDAQ stock delisting notice?
EV startup Lordstown Motors (RIDE) said it had received a notice of delisting from The NASDAQ Stock Market LLC Wednesday due to its falling stock price. Lordstown and other EV startups have seen their stock prices crater since going public, falling over 90% in many cases.
Founded in 2018, Lordstown has faced a significant amount of hurdles in getting its first product, the Endurance electric truck, to market.
Lordstown went public on the NASDAQ exchange in 2020 through a reverse merger with special acquisition company (SPAC) DiamondPeak Holdings. The company was one of several EV startups that took advantage of the ease of access to capital through a SPAC merger during that time, along with names like Nikola (NKLA), Canoo (GOEV), Faraday Future (FFIE), and Arrival (ARVL).
Many of which are in a similar situation as Lordstown. Rising interest rates and ongoing supply chain disruptions are hindering growth and contributing to higher-than-expected losses.
As a result, investors are fleeing to safer, more predictable assets amid the more challenging economic environment.
With stock prices crashing, access to cheap funding is drying up, and with little production, cash is also becoming a concern.
Despite several cash injections from Taiwanese electronics manufacturer Foxconn, Lordstown is still losing money, with net losses widening to $102 million in the fourth quarter of 2022.
Although Lordstown said the initial batch of 500 Endurance models was out for delivery last November, the company halted production in February due to a voluntary recall over quality issues.
Lordstown resumed Endurance production this week, but the company has now been issued a stock delisting notice.
Lordstown receives stock delisting notice from NASDAQ
According to an 8-K filing Thursday, Lordstown (RIDE) received a written statement from The NASDAQ Stock Market LLC on April 19, 2023.
The notice states that the company was no longer in compliance with the NASDAQ’s minimum price bid requirement due to Lordstowns stock price falling below $1.00 for 30 consecutive trading days.
Lordstown says the notice does not immediately affect the company’s stock and does not affect its SEC reporting requirements. The company has 180 calendar days (or until October 16, 2023) to regain compliance with the $1.00 requirement for a minimum of ten consecutive business days.
If the company fails to do so, it may be eligible for an additional grace period, according to the SEC filing, which would require transferring its stock listing to The Nasdaq Capital Market.
Lordstown is evaluating current solutions to regain compliance, including a potential reverse stock split. In anticipation of the notice, the company included a proposal for the company’s upcoming annual shareholder meeting to put a reverse stock split into effect. The reverse split will ratio will range from 1:3 to 1:15.
Shareholders can vote on the proposed reverse stock split at Lordstowns annual shareholder meeting on May 22, 2023.
Electrek’s Take
Although Lordstown is among the first to receive the stock delisting notice, several other EV startups are in the same boat.
For example, Canoo’s stock price is hovering around $0.76 as of Thursday and has been below $1.00 for around two months. Faraday Future’s stock price is currently around $0.23 while Nikola’s is around $0.88.
However, it’s not just electric vehicle startups, its essentially any high-growth, non-profitable company that went public through a SPAC merger.
SPAC’s were fueled by low interest rates in 2020 leading to bloated stock prices. With the Federal Reserve raising interest rates at a pace not seen since the 80’s, geopolitical tension rising, and calls for a recession heightening, investors fled for safer assets last year, leading to a fallout in the SPAC market.
FTC: We use income earning auto affiliate links. More.
On today’s extreme episode of Quick Charge, we’ve got the most affordable new EV in America packing 255 miles of range, sub-30 minute charging, V2H support, and more – all that for a price about $10,000 LESS than that new “affordable” Tesla.
We’ve also got specs for the all-new, all-electric Ferrari Elettrica and a world’s first, hydrogen-powered autonomous farm tractor from Kubota.
Today’s episode is brought to you by Climate XChange, a nonpartisan nonprofit working to help states pass effective, equitable climate policies. The nonprofit just kicked off its 10th annual EV raffle, where participants have multiple opportunities to win their dream model. Visit CarbonRaffle.org/Electrek to learn more.
Source Links
Prefer listening to your podcasts? Audio-only versions of Quick Charge are now available on Apple Podcasts, Spotify, TuneIn, and our RSS feed for Overcast and other podcast players.
New episodes of Quick Charge are recorded, usually, Monday through Thursday (most weeks, anyway). We’ll be posting bonus audio content from time to time as well, so be sure to follow and subscribe so you don’t miss a minute of Electrek’s high-voltage daily news.
Got news? Let us know!
Drop us a line at tips@electrek.co. You can also rate us on Apple Podcasts and Spotify, or recommend us in Overcast to help more people discover the show.
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
Momentum, the lifestyle-focused urban bike brand under Giant Group, has just launched the latest version of its popular Vida E+ electric bike – and this one’s all about making e-biking smoother, safer, and more accessible to riders of all experience levels.
The updated Vida E+ features a new 500W SyncDrive Move S motor offering 60Nm of torque and pedal assist up to 28 mph, designed to provide natural-feeling power whether you’re cruising to work or just exploring around town. The system uses a combination of sensors to analyze torque, speed, and cadence, automatically adjusting power output to match your pedaling effort.
According to Momentum, the motor engages with as little as 4Nm of pedal pressure and just 10° of crank movement, giving riders what they describe as an ultra-smooth and effortless start every time.
A new optional throttle adds another layer of convenience, letting riders cruise at speeds up to 20 mph without pedaling, which should be perfect for hills, traffic-heavy starts, or when you just want to relax and take it easy on the way home. The bike’s EnergyPak 700 battery provides up to a claimed 55 miles (88 km) of range on pedal assist or 43 miles (69 km) on throttle-only riding.
The Vida E+ also leans hard into comfort and safety. It sports a low-step aluminum frame for easy on-and-off, an 80 mm suspension fork, and wide 26×2.4-inch tires for stability and plushness. Four-piston hydraulic disc brakes ensure solid stopping power, while a new automatic motor cutoff feature stops assistance as soon as the brakes engage. The bike is UL 2849 certified, meaning it meets top-tier safety standards for batteries and electronics, which is a growing priority in the e-bike world as more cities and states consider requiring safety certification as a prerequisite.
With support for up to 300 pounds (136 kg) total load and optional racks front and rear, the Vida E+ is also built for everyday utility. And on the tech side, momentum’s RideControl app lets riders fine-tune speed and assistance, lock or unlock the bike electronically, and monitor battery health.
The new Momentum Vida E+ is available now through Giant Group’s nationwide dealer network with an MSRP of US$2,480.
Returning from a recall on its previous bike, Giant Group will now have an opportunity to see how the new version of the Momentum Vida E+ will fare.
FTC: We use income earning auto affiliate links. More.
VW’s US EV lease deals just went from hero to zero. Federal tax credits are now dead, the automaker has wiped out up to $12,000 in lease incentives on the ID.4, and ended $10,500 in discounts on the ID. Buzz. The move bucks the trend as other brands continue to sweeten their EV lease offers.
As of September 30, 2025, Volkswagen offered up to $12,350 in lease cash on the ID.4, depending on configuration. That included a $7,500 federal lease tax credit for lessees as Bonus Customer Cash, plus $3,500 to $4,850 in Dealer Lease Cash. It made the ID.4 one of the top EV lease deals around.
On October 1, those incentives vanished. While the ID.4 still has a 0% APR equivalent lease rate, drivers lost more than $12,000 in savings overnight. The ID. Buzz took a similar hit. Last month, the 2025 ID. Buzz offered $10,500 off MSRP between the $7,500 tax credit and $3,000 Dealer Lease Cash. Now, almost all lease cash is gone. VW Credit is offering just $750 in Dealer Lease Cash, and weirdly, not on models with two-tone paint. According to CarsDirect’s lease calculator, the lowest-priced ID. Buzz trim now carries an effective monthly cost topping $1,000 — a considerable jump.
For comparison, the ID. Buzz Pro S was previously advertised at $589 a month for 36 months with $5,999 due at signing, or an effective monthly cost of $756.
The ID.4 lease once cost just $233 a month, making it one of the cheapest EVs to lease. According to updated estimates, that figure is now north of $800 – that’s hair-raising.
Meanwhile, VW’s rivals are going in the opposite direction. Ford extended its Mustang Mach-E lease deals through early January. Subaru’s updated 2026 Solterra still qualifies for the $7,500 lease credit, and Jeep replaced the expiring EV lease credit with equivalent bonus cash.
If you really want a Volkswagen, though, there’s some good news: financing deals haven’t changed. The 2025 ID.4 continues to offer 0% APR for 72 months, and buyers of the ID. Buzz can still get up to $3,250 in Bonus Customer Cash through November 3, a perk unavailable to lessees.
It kinda seems like VW doesn’t want to lease their EVs anymore…?? Let me know your thoughts in the comments below.
Read more: From $189 a month: 5 of the best EV lease deals in October
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.
FTC: We use income earning auto affiliate links. More.
-
Sports3 years ago‘Storybook stuff’: Inside the night Bryce Harper sent the Phillies to the World Series
-
Sports2 years agoStory injured on diving stop, exits Red Sox game
-
Sports2 years agoGame 1 of WS least-watched in recorded history
-
Sports3 years agoButton battles heat exhaustion in NASCAR debut
-
Sports3 years agoMLB Rank 2023: Ranking baseball’s top 100 players
-
Sports4 years ago
Team Europe easily wins 4th straight Laver Cup
-
Environment2 years agoJapan and South Korea have a lot at stake in a free and open South China Sea
-
Environment1 year agoHere are the best electric bikes you can buy at every price level in October 2024