EV startup Lordstown Motors files for bankruptcy ...Middle East

The Hill - Technology
EV startup Lordstown Motors files for bankruptcy
source : The Hill ( Middle East ) () 37
Lordstown Motors, a U.S.-based electric vehicle startup that launched with huge fanfare and financial backing five years ago, has filed for bankruptcy.  In a statement on Tuesday, the company said it filed for Chapter 11 protection in a Delaware bankruptcy court in an attempt to find a potential buyer, and said it remained confident that a future owner could take its Endurance truck and “multiple EV variants and take the product to the next level.”  Lordstown blamed its financial situation on Taiwanese tech giant Foxconn, which wavered on a $170 million earlier this year. And it filed a lawsuit against the company, called Hon Hai Precision Industry in Taiwan and China, for allegedly

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