Lordstown Motors files for Chapter 11 bankruptcy
"They have an incredible vehicle." — Trump in 2020
• Went public via SPAC
• Said it would produce hundreds of thousands of vehicles
• Touted by Trump as the savior of Lordstown, Ohio (a former GM plat)
• Ran into production issues
• So far has only a handful of trucks
• Sold its northeast Ohio factory to Foxconn in November 2021
• Market cap has fallen to $28 million from a peak of $5 billion in February 202
• Went public via SPAC
• Said it would produce hundreds of thousands of vehicles
• Touted by Trump as the savior of Lordstown, Ohio (a former GM plat)
• Ran into production issues
• So far has only a handful of trucks
• Sold its northeast Ohio factory to Foxconn in November 2021
• Market cap has fallen to $28 million from a peak of $5 billion in February 202
Another SPAC attack victim