EV

We bought a GM factory for a dollar. A dollar. The factory that built the Chevy Cruze. We were going to build electric trucks there. The symbolism was perfect. The business plan was not.

We went public via SPAC at a $1.6 billion valuation. We had no revenue, no production vehicle, and apparently no real pre-orders. The SPAC era will be studied for decades.

The Endurance truck had hub-mounted motors — one in each wheel. Revolutionary technology. We just never got to the part where we actually manufactured them at scale.

We filed for bankruptcy with $6 million in cash. We had raised over $1 billion total. A billion dollars in, six million left, zero trucks on the road. That math is hard to explain.