What happened Shares of Lordstown Motors (NASDAQ: RIDE) were trading higher on Monday after the company released a business update and confirmed that it's on track to begin production of its electric pickup truck in September of 2021. As of 1:45 p.m. EST, Lordstown's shares were up about 10.2% from Friday's closing price. So what Lordstown went public just a few weeks ago, in late October, after completing a merger with a special-purpose acquisition company. The company plans to begin regular quarterly earnings reports after the current quarter ends, but in lieu of a third-quarter report it provided an update on the state of its business. The big news for auto investors is that there's no big (negative) news: Reservations for the electric Endurance pickup truck are flowing in and Lordstown is gearing up for production, as expected. Lordstown's Endurance, a battery-electric pickup designed for fleet use, is on track to begin production in September 2021, the company said on Monday. Image source: Lordstown Motors. Lordstown said it's on track to begin deliveries of the Endurance pickup next fall, as promised, with production gradually ramping up into 2022. In the meantime, it's testing early prototypes, and it's planning to build a run of "beta" trucks on its under-construction assembly line early next year, for further testing before production starts. On the sales side, Lordstown said it has about 50,000 non-binding "reservations" for the Endurance from commercial-fleet operators, with an average order size of around 500 trucks. The company has also had interest from local, state, and federal government agencies, as well as the U.S. military, it said -- all potential customers that can't officially place reservations now. Now what Lordstown also announced three new executive promotions, including a new president and a new chief of its propulsion team, Rich Schmidt and John Vo, both of whom joined the company from Tesla. The third, auto-industry manufacturing veteran Shane Brown, is Lordstown's new chief production officer, the company said. 10 stocks we like better than Lordstown Motors Corp.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Lordstown Motors Corp. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 John Rosevear has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Tesla. The Motley Fool has a disclosure policy.Source