Lordstown Motors Warns It Could Run Out of Cash
Lordstown Motors (NASDAQ: RIDE) on Tuesday warned that it does not have enough cash to begin commercial production of its electric vehicle (EV), raising doubts about whether the company will be able to survive.
Lordstown has been developing an electric pickup called the Endurance, with initial plans to begin production this year. But the company's prospects were thrown into doubt last month when Ford Motor Company (NYSE: F) announced an electric version of its mainstay F-150 that is likely to eat into a lot of the potential demand for the Endurance.
Prototype of the Endurance pickup. Image source: Lordstown Motors.
Source Fool.com
