S&P 500 - % Dow - % Nasdaq - %Electric truck start-up Lordstown doesn’t have cash to begin production. In a regulatory filing, Lordstown said it will not be able to begin “commercial scale production” without raising more money from investors and lenders. Lordstown also said is reducing its spending to conserve the cash it has on hand, without saying whether it might cut jobs. sold the plant to Lordstown for just $20 million in 2019 and later lent the start-up $40 million. If this persists, YouTube might have achieved something that few internet companies have: a relatively healthy relationship with an established industry that it simultaneously helps and disrupts.

Source: International New York Times June 08, 2021 11:37 UTC