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Lordstown Motors warns it doesn’t have enough cash to produce electric trucks

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Lordstown Motors has been among the startups (Rivian, Canoo) promising electric pickups that can compete with the current titans of the truck world. Still, an update today shows the company’s future is in doubt. The New York Times reports on a filing with the SEC that shows the company’s ability to move forward as a going concern is at risk, simply because it doesn’t currently have enough cash to start manufacturing the Endurance electric truck.

Lordstown Motors:r sentiment concerning us and our industry.

The company went public in October via the maneuver known as a SPAC, a notable acquisitions company. It recently warned investors it was at risk of being delisted for missing a filing deadline. The plan has been to sell its truck to businesses, but with electric pickups arriving from Ford and others, it’s only going to get harder to compete, assuming the Endurance comes to market in the first place.

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Tristan McCue is a 26-year-old junior programmer who enjoys reading, binge-watching boxed sets, and appearing in the background on TV. He is smart and friendly, but can also be very evil and a bit lazy.He is an Australian Christian. He has a post-graduate degree in computing.
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