Lordstown Motors Corp (RIDE.O) said on Monday Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned, days after the electric-truck maker warned that it may not have enough cash to stay in business over the next year.
Undated handout image of the Lordstown Endurance electric pickup truck. Lordstown Motors/Lisa Acierno/Handout via REUTERSsaid on Monday Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned, days after the electric-truck maker warned that it may not have enough cash to stay in business over the next year.
Lordstown named Becky Roof, who had previously served as interim CFO at numerous companies including Eastman KodakSince the going-concern warning last week, the company has allayed some worries by saying it was in talks with multiple parties to raise funds.The drop was the latest sign of a recent retreat in the once high flying electric vehicle sector, whose ranks have been swollen by the recent boom in special purpose acquisition companies, or SPACS.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks making the biggest moves premarket: Novavax, Lordstown Motors, Phillips, Chipotle and othersThese are the stocks posting the largest moves before the bell.
Read more »
Stocks making the biggest moves premarket: Novavax, Lordstown Motors, Phillips, Chipotle and othersThese are the stocks posting the largest moves before the bell.
Read more »
Ford’s Maverick Truck Offers Alternative to Hulking PickupsThe auto maker revealed a smaller model, coming this fall, to attract buyers who want a flatbed but don’t have the money or space for a big truck.
Read more »
How An Electric Car Battery Can Fail: One StoryBatteries are what make an electric car an electric car. But they can also be its undoing.
Read more »
How a Philly bike dude built British Prime Minister Boris Johnson’s new rideBearded bike-maker Stephen Bilenky typically builds high-performance steel bikes using vintage milling machines.
Read more »
Canadian cop killed in line of duty after being run over by couple in stolen truckCanadian police officer killed in the line of duty after being run over during a traffic stop of a couple driving a stolen truck, authorities say.
Read more »