But local government officials are not sure what to make of the company, which had discussed adding more than 2,000 jobs in a region plagued by plant closures. New York: Several electric auto startups that raised large sums from investors in the wake of Tesla’s ascent are hitting potholes as they pursue next-generation vehicles. The […]
Lordstown Motors Sinks 19% as The Electric Vehicle Maker Cuts Production Outlook and Seeks More Funding
The Endurance truck with Lordstown Motors CEO Steve Burns. Lordstown Motors shares fell 19% on Tuesday after saying it needs more money to execute its plans.It forecast cash and cash equivalents of $50 million to $75 million by year’s end, lower than the previous outlook of $200 million.Lordstown said it’s been hurt by challenges including […]