Lordstown Motors Faces Uncertain Future Amid Production and Financial Woes
Lordstown Motors, the embattled EV startup, expects to end production of its Endurance pickup truck "in the near future" as it runs out of cash and seeks additional capital. The company said it may go bankrupt if a previously announced deal with contract manufacturer Foxconn falls through. Lordstown's net loss widened to $171.1 million in the first quarter, compared with a loss of $89.6 million a year earlier. The company said it had cash and cash equivalents of just $108.1 million as of March 31, down 11% to begin the year.