Hyperdrive
Lordstown Motors Jumps on Outlook for Production Through May
- Startup can build at least 15,000 trucks with cash on hand
- Executive touts war chest of ‘well over $400 million’
The Lordstown Motors Corp. Endurance electric pickup truck.
Photographer: Matthew Hatcher/BloombergThis article is for subscribers only.
Lordstown Motors Corp. jumped after saying it has enough money to make its battery-powered trucks through May of next year, paring a record decline the previous day following the departure of two top executives.
The automaker is actively raising additional funds and has reconfirmed orders for its debut vehicle, President Rich Schmidt said Tuesday at an Automotive Press Association event in Detroit.