Limited production close for Lordstown, future still hazy

Even though electric vehicle maker Lordstown Motors anticipates beginning limited production next month, it said in a regulatory filing on Friday that it’s still unsure if it will last the year as a company

Lordstown Motors expects to begin limited production of its electric pickup truck next month, yet the future of the Ohio start-up remains hazy. In addition to this week's announcement that the company, based just outside of Youngstown, aims to begin production in September, Executive Chairwoman Angela Strand said Lordstown also expects to complete vehicle validation and regulatory approvals in December and January. The first deliveries to a select group of customers should begin in the first quarter, Strand said, with commercial deliveries expected early in the second quarter. However, the company has fought to secure new funding and on Friday it said again that it was unable to guarantee that it will last through the year. Lordstown said it had cash and cash equivalents of approximately $365.9 million and an accumulated deficit of $367.9 million at the end of June. It had a net loss of $233.4 million for the six months ended June 30.