Electric Truck Maker Lordstown Motors Files For Bankruptcy ...Middle East

OILPRICE - Economy
Electric Truck Maker Lordstown Motors Files For Bankruptcy
source : OILPRICE ( Middle East ) () 33
Troubled U.S. electric truck manufacturer Lordstown Motors filed for bankruptcy on Tuesday and simultaneously sued Taiwan-based Foxconn for fraud and failure to follow through on its commitment to invest $170 million in the company.   Lordstown Motors was one of many EV startups to go public during the boom of the Special Purpose Acquisition Companies (SPACs), but has struggled financially for years. Two years ago, Lordstown Motors warned it might have to shut down for business as funds were running low. Last November, the EV truck manufacturer…

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