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Lordstown Motors Flags Crisis With ‘Going Concern’ Warning

  • Startup EV truck maker is seeking to raise much-needed cash
  • Company may not last 12 months without added infusion
Lordstown Motors’ Endurance electric pickup truck

Lordstown Motors’ Endurance electric pickup truck

Photographer: Matthew Hatcher/Bloomberg
Updated on

Lordstown Motors Inc., an electric-vehicle startup that recently went public, may not have enough cash to get its debut pickup truck to market and might not survive the next 12 months if it can’t raise more more capital.

“The company believes that its current level of cash and cash equivalents are not sufficient” to complete the development of its electric vehicles and launch the Endurance pickup, Lordstown said in the filing Tuesday.