DETROIT: Electric truck startup Lordstown Motors said on Tuesday (Wednesday in America) it lacks sufficient capital to begin commercial production and warned about the ability to keep operating.
The company, which had targeted commercial production to begin in September, has just $587 million in cash, which is "not sufficient to fund commercial scale production and launch sale of such vehicles," Lordstown said in a securities filing.
Already have an active account? Log in here.
Continue reading with one of these options:
Continue reading with one of these options:
Premium + Digital Edition
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)
TRY FREE FOR 14 DAYS
See details
See details
If you have an active account, log in
here
.