New York Lordstown Motors, the startup electric truck maker, warned Tuesday it is close to running out of cash and may be forced out of business in the next year.
The news, which sent Lordstown shares down nearly 8% in after-hours trading, is a blow to not only the company but also to the gritty industrial town from which it gets its name. For 53 years, Lordstown, Ohio, was home to a massive General Motors plant, which GM closed in 2019. It sold the 6.2 million square foot factory, nearly twice the size of the Pentagon, to start-up Lordstown Motors later that year, which promised to pay union-level wages to workers to build its Endurance pickup truck.
Scam, they should be investigated.
That is a hot truck
Maybe something you could look into, after all they are children.
elonmusk can buy it turn into profits 😍
Mean anything to you?
no more bail outs sell company assets another company will take over
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