Autos

Lordstown touts ‘real employees at a real plant’ amid funding concerns

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Workers install door hinges to the body shell of a prototype Endurance electric pickup truck on June 21, 2021 at Lordstown Motors’ assembly plant in Ohio.

Michael Wayland / CNBC

LORDSTOWN, Ohio – Lordstown Motors‘ new executive team wants to make one thing clear to the investors this week: The electric vehicle start-up has “real employees at a real plant.”

That wouldn’t need to be said for most companies, but the aspiring EV manufacturer has been hemorrhaging money, it recently warned investors that it may not have enough cash on hand to survive the next 12 months and it ousted its top two executives. The Securities and Exchange Commission has also opened and inquiry looking into…



Source cnbc.com

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