Lordstown Is Short of Funds to Build its Electric Truck
Lordstown Is Short of Funds to Build its Electric TruckEV startup Lordstown Motors has been promising an electric pickup truck for some time now. It even planned to start production before the end of this year.
The company is one of the several involved in a frenetic race to bring electric trucks to market. In fact, we presented you with an overview of the pretenders this past January.
However, it appears all is not smooth sailing at Lordstown, which is based in the Ohio town of the same name. The company has acknowledged it simply doesn't have enough money to start production of its Endurance model as it had promised to do before the end of the year.
That bit of news came out Tuesday in a regulatory filing and was first reported by The Wall Street Journal. Lordstown's inability to launch production of its first product raises serious questions about the company's viability and how long it will last.
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