New York Lordstown Motors, the startup electric truck maker, warned Tuesday it is close to running out of cash and may be forced out of business in the next year.
The news, which sent Lordstown shares down nearly 8% in after-hours trading, is a blow to not only the company but also to the gritty industrial town from which it gets its name. For 53 years, Lordstown, Ohio, was home to a massive General Motors plant, which GM closed in 2019. It sold the 6.2 million square foot factory, nearly twice the size of the Pentagon, to start-up Lordstown Motors later that year, which promised to pay union-level wages to workers to build its Endurance pickup truck.
Scam, they should be investigated.
That is a hot truck
Maybe something you could look into, after all they are children.
elonmusk can buy it turn into profits 😍
Mean anything to you?
no more bail outs sell company assets another company will take over
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla veteran Jerome Guillen leaves after less than three months leading trucking business\nGuillen had worked at the company in roles reporting directly to CEO Elon Musk since November 2010, and previously oversaw its entire Automotive business. You guys should be ashamed of this headline. He worked at Tesla for 11 years. People will get the impression this was a quick departure, which is probably why you framed it this way. TESLA And CNBC just purposely missed out this big achievement today...
Source: CNBC - 🏆 12. / 72 Read more »
The Future Of Small Business Lending: Fintech 50 2021Despite a trying year for small business, a slew of fintech companies thrived by offering credit to buzzy startups and mom-and-pops alike.
Source: Forbes - 🏆 394. / 53 Read more »
How these millennial tech founders pulled off Indonesia's biggest-ever business dealGoTo founders Kevin Aluwi and William Tanuwijaya made Indonesian history after merging their tech start-ups in the country's biggest-ever business deal.
Source: CNBC - 🏆 12. / 72 Read more »
Tesla's China sales struggle to bounce back from an April slumpTesla sold 33,463 electric cars in May, up 29% from April, but still short of March's 35,478 units, according to the China Passenger Car Association. Why the fake news? Can someone please hold the editor and author accountable for spreading such wrong FUD…$TSLA The media is garbage propaganda March was the last month of a quarter. Always contains more deliveries. What terrible reporting.
Source: CNBC - 🏆 12. / 72 Read more »
Tesla's China-made vehicle sales surge 29% in May - auto associationTesla Inc (TSLA.O) sold 33,463 China-made electric cars in May, including exports, a 29% jump from April, according to data from the China Passenger Car Association (CPCA) on Tuesday. The best choice I've made this year was investing in cryptocurrency and forex trading and earning from home. With the help of micheal33590 I've been earning $ 23k weekly I've never regretted this decision. 🙏🏻🙏🏻 ❣ BanYulin StopYulin BanYulinTorture ❣Fight animal cruelty WeAreTheirVoice dogs cats dogsoftwitter EndYulinForever 🐈🐕🐈🐕🐈🐕🐈🐕🐈🐕🐈🐕🐈🐕🐈🐕🐈🐕 China’s Yulin “Festival” is 6/21-30 NDogsLB CRD69196083
Source: Reuters - 🏆 2. / 97 Read more »
Madame Clairevoyant: Horoscopes for the Week of June 7It’s time to go after what you want with passion and without hesitation Watch out world it’s Gemini season 👯♀️
Source: NYMag - 🏆 111. / 63 Read more »