DETROIT (AP) — Startup commercial electric vehicle maker Lordstown Motors says it may not be in business a year from now as it tries to secure funding to start full production of an electric pickup truck. In a quarterly regulatory filing released Tuesday, Lordstown says the $587 million it had on hand as of March 31 isn’t enough to start commercial production and begin selling the truck. The company says it’s seeking more capital but may not be able to raise it. Lordstown says it may not be a going concern within a year.
The post Startup Lordstown Motors warns it may not stay in business appeared first on WEEK.