We’ve never had much faith in Lordstown Motors going the distance and now there’s even less reason to hope after the company filed a 10-Q form Tuesday. It admitted “The Company believes that its current level of cash and cash equivalents are not sufficient to fund commercial scale production and the launch of sale of such vehicles.”
It was just last week that Lordstown saying it still had an EV truck in this fight, albeit maybe at half-capacity for the first year. From the New York Times:
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