Contract talks at an electric vehicle battery plant in Lordstown could have even more of an impact than the autoworkers’ strike on the labor standards of the emerging electric-vehicle industry.
The company bought a shuttered General Motors plant in Ohio but struggled to produce its pickup truck.
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 activist short-seller behind Hindenburg Research has become known for research that sends companies’ stock sinking. He says he’s not in it just to move share prices.
A longtime real estate investor and former Goldman Sachs executive decided to take an electric truck company public. Chaos ensued.
After an executive shake-up and conflicting statements about prospects for its electric pickup truck, the start-up is inviting investors to pay a visit.
Lordstown said last week that it needed to raise more money and might not survive. Now, the company’s new executive chairwoman has said “It’s a new day at Lordstown Motors.”
The company’s top executive resigned after the struggling automaker released an investigation by its board.
Lordstown Motors, which bought a shuttered General Motors factory in Ohio, warned that it needs to raise more money and might not survive.
Lordstown Motors said it would start producing and selling electric pickup trucks this year, but there is little evidence it is ready to do so. Its stock has tumbled from a high of about $30 last year to around $8.