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RIDE - Lordstown Motors News Story

$6.59 -0.7  -9.6%

Last Trade - 27/07/21

Sector
Consumer Cyclicals
Size
Mid Cap
Market Cap £931.7m
Enterprise Value £507.6m
Revenue £n/a
Position in Universe 2657th / 7000

Lordstown Motors is 'evaluating strategic partners' in funding search

Mon 21st June, 2021 7:52pm
DETROIT, June 21 (Reuters) - Electric vehicle startup
Lordstown Motors  RIDE.O  is "evaluating strategic partners" as
part of its search for funding needed to stay in operation, the
company's executive chair, Angela Strand, said Monday.
    Lordstown Motors has warned it may not be able to continue
as a "going concern" if it cannot raise more money to retool its
factory in Lordstown, Ohio, for high-volume production.    
    Strand is acting as the company's chief executive while a
search is underway to replace Steve Burns, who left the company
earlier this month.

 (Reporting by Joe White; editing by Jonathan Oatis)
 ((Joe.White@thomsonreuters.com;))
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