Lordstown Motors founder launches new electric vehicle company 'LandX Motors'
Lordstown Motors founder and former CEO Steve Burns is back in the electric vehicle industry.
Burns has founded the electric car company LandX Motors.
The company's website describes Burns as a "serial entrepreneur" and a "first-mover in the EV space for the past 17 years."
LandX's mission section says they want to "change the way we move goods around this planet, with electric vehicles that take you where no others have gone before."
A video on the LandX Motors website appears to be the same as one that Lordstown Motors uploaded to its YouTube channel titled "Vehicle Validation - Water Handling" on August 9, 2022.
21 News reported in September 2023 that LAS Capital LLC made a $10 million offer to purchase Lordstown Motors' assets after filing for bankruptcy. Burns is the majority equity holder of LAS.
A bankruptcy court approved the sale in October of the same year.
Burns resigned from his position with Lordstown Motors in June 2021 as a special committee looked into a report by Hindenburg Research, which found "issues regarding the accuracy of certain statements regarding the company's preorders."
Over several months, Burns sold off shares of Lordstown Motors that he still held, selling the last of his common stock in May 2023.
Burns' LAS (Land, Air & Sea) Capital has other automotive projects within its portfolio, including Greenstreet, a 3-wheel electric vehicle company; RYSE, a manned electric vehicle takeoff and landing aircraft; Blue Innovations Group (BIG), which makes EV boats, and Power Shower, a plug-and-play automatic showerhead.