STARTUP LORDSTOWN MOTORS WARNS IT MAY NOT STAY IN BUSINESS
Startup commercial electric vehicle maker Lordstown Motors says it may not be in business a year from now as it tries to secure funding to start full production of an electric pickup truck. In a quarterly regulatory filing Tuesday, Lordstown said the $587 million it had on hand as of March 31 isn’t enough to start commercial production and begin selling the full-size pickup, called the Endurance. “These conditions raise substantial doubt regarding our ability to continue as a going concern for a period of at least one year,” the company said in the filing with the Securities and Exchange Commission. Shares of the company, which is set up in a now-closed General Motors plant east of Cleveland, fell 16.2% to close Tuesday at $11.22. The lost another 3% in after-hours trading. On May…