The company, which is backed by Amazon and Ford, is seeking to sell shares in one of the biggest initial public offerings of the year.
The deal could result in the sale of the struggling automaker’s Ohio factory to Foxconn. Lordstown is under federal investigation and needs more cash to mass-produce an electric pickup truck.
The company did not provide many details about its confidential filing with the Securities and Exchange Commission.
A longtime real estate investor and former Goldman Sachs executive decided to take an electric truck company public. Chaos ensued.
The company’s top executive resigned after the struggling automaker released an investigation by its board.
Arrival, a developer of electric vans and buses, says it has come up with a cheaper way to build vehicles in small factories. But can it deliver on that promise?