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- Lordstown Motors
Lordstown Motors Valuation, Funding & Investors
Lordstown Motors is valued at $700M as of November 2019.
Last Lordstown Motors valuation
$700M
Seed · Nov 2019
Last Lordstown Motors funding round
$10M
Series A · Jul 2020
Cumulative funding Lordstown Motors raised
$15M
across 2 funding rounds
Key investors in Lordstown Motors
E Squared Capital Management
About Lordstown Motors
Lordstown Motors is a Warren, Ohio-headquartered electric vehicle maker founded in 2018 producing the Endurance pickup truck for fleets with 250-mile range and 500-mile towing capacity. Its 620-acre factory assembles 20,000 units yearly using in-house hub motors. Facilities span Farmington Hills, Michigan, and Irvine, California, following Chapter 11 restructuring in 2023 under AABC Newco.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$700M (Nov 2019)
Lordstown Motors Valuation
Lordstown Motors is currently valued at $700M, based on its seed round in November 2019.
Lordstown Motors valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Nov 2019 | Seed | $700M |
Lordstown Motors Funding History
Lordstown Motors has raised a total of $15M across 2 funding rounds.
Lordstown Motors' first fundraising round was a $5M seed round in November 2019. The most recent completed round was a $10M Series A in July 2020.
Lordstown Motors funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2020 | Series A | E Squared Capital Management | $10M | - | Lordstown Motors, an electric vehicle startup, purchased the Lordstown Assembly Plant from General Motors in May 2019 with a roughly $40 million GM loan. E Squared Energy placed preorders for 14,000 pickups, valued around $735 million if consummated. In October 2020, Lordstown Motors merged with SPAC DiamondPeak Holdings, acquiring a nominal valuation of $1.6 billion prior to producing any vehicles. |
| Nov 2019 | Seed | - | $5M | $700M | Lordstown Motors raised $500M in a public funding round at a $700M valuation. The company, founded in 2019, develops electric pickup trucks, focusing on the Endurance model with in-wheel hub motors. Workhorse Group was an early investor in Lordstown Motors. In 2019, the company reported a net loss of $11 million, including $5 million in G&A expenses and $6 million in R&D expenses. Lordstown Motors later went public in 2020 via a SPAC merger with DiamondPeak Holdings at a $1.6B transaction value, raising $675M in gross proceeds including a $500M PIPE. |
Who has invested in Lordstown Motors?
1 investor has backed Lordstown Motors across its funding rounds, including E Squared Capital Management.
Lordstown Motors Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Start Free TrialLordstown Motors Competitors
Lordstown Motors competitors include listed companies like Einride and Voyah, and private ones like Stark Future, Singulato Motors, Atlis Motor Vehicles and Taiga Motors.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $47M | ($93M) | $570M | - | ||
| Private | $132M | - | $555M | 4.2x | ||
| Publicly listed | $5.2B | $562M | $883M | 0.1x | ||
| Private | - | - | $900M | - | ||
| Private | - | - | $950M | - | ||
| Private | - | - | $392M | - |
Lordstown Motors Public Comps
Lordstown Motors is still privately-owned, but its public comps include Eve Air Mobility, GB Corp, Otokar, Kempower, Lotus Technology, Piaggio, IDOM, Phoenix Bicycle, EV Motors and Solid Power.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($212M) | - | - | (3.0x) | (2.8x) | |||
| $1.5B | $164M | 0.9x | 0.8x | 8.2x | 8.2x | |||
| $1.1B | $155M | 1.5x | 1.2x | 10.5x | 24.2x | |||
| $289M | $690K | 2.2x | 1.9x | 917.9x | 59.5x | |||
| $519M | ($360M) | 4.5x | 4.0x | (6.5x) | (7.9x) | |||
| $1.7B | $284M | 0.8x | 0.7x | 4.7x | 4.5x | |||
| $3.6B | $147M | 0.4x | 0.3x | 9.0x | 7.8x | |||
| $322M | $30M | 1.6x | - | 16.8x | - | |||
This data is available for Pro users. Sign up to see all Lordstown Motors competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Lordstown Motors
| When was Lordstown Motors founded? | Lordstown Motors was founded in 2019. |
| Where is Lordstown Motors headquartered? | Lordstown Motors is headquartered in Detroit, MI, United States. |
| Is Lordstown Motors publicly listed? | No, Lordstown Motors is a private, VC-backed company. |
| What is Lordstown Motors' valuation? | Lordstown Motors was last valued at $700M in its seed round in November 2019. |
| How much funding has Lordstown Motors raised? | Lordstown Motors has raised $15M across 2 funding rounds. |
| What was Lordstown Motors' last funding round? | Lordstown Motors' last funding round was a $10M Series A in July 2020. |
| Who are Lordstown Motors' investors? | Lordstown Motors' investors include E Squared Capital Management. |
| Which companies are comparable to Lordstown Motors? | Companies comparable to Lordstown Motors include Einride, Stark Future, Voyah, Singulato Motors, Atlis Motor Vehicles and Taiga Motors. |
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