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 United States has about 100,000 public chargers, far fewer than Europe and China. It needs 10 times as many, auto experts say, to complete the switch from combustion engine vehicles.
Federal prosecutors charged Mr. Milton with misleading investors about the technology for battery- and hydrogen-powered vehicles Nikola had hoped to manufacture.
A longtime real estate investor and former Goldman Sachs executive decided to take an electric truck company public. Chaos ensued.
Despite sticker prices in the millions, the storied brand chronically lost money. The Croatian firm Rimac will take a controlling interest.
Despite sticker prices in the millions, the storied brand chronically lost money. The Croatian firm Rimac will take a controlling interest.
The start-up gained attention by purchasing a shuttered General Motors factory in Ohio in 2019. At the time, G.M. was under pressure from President Trump to find a buyer for the plant.
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.
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?
