Lordstown Motors Corp will temporarily prevent generation and deliveries of its pickup truck Endurance, of which it has only made 31 models for sale, the electric powered-vehicle maker mentioned, citing effectiveness and quality troubles with some parts.
Shares tumbled 11.8% to $1.08 in early buying and selling on Thursday after the firm also reported it would voluntarily recall 19 automobiles delivered to buyers or becoming employed internally.
Lordstown had set a target to provide 50 cars in 2022 and more in 2023 out of the planned initial batch of 500 models when professional generation began in September.
The firm did not make it apparent when it would resume generation and deliveries.
Investor Foxconn, which also manufactures the Endurance vehicles, did not straight away reply to a Reuters ask for for comment.
Cars waiting for shipment and in course of action at the manufacturing plant will also be preset, the corporation included.
The EV organization said in January it envisioned manufacturing to be slow by way of its very first quarter due to source chain constraints, notably with respect to the availability of hub motor elements.