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GM agreed to sell the plant to the recently-formed entity referred to as Lordstown Motors Started by the previous leading govt at An electrical truck maker called Workhorse Group.
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“Specifically, tightening of credit score conditions and higher interest premiums impacted our liquidity ranges and built our money structure unsustainable,” Mr. Gadbois her explanation said.
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"The bankruptcy of Lordstown alerts that the times of thriving EV startups is from the rear-check out mirror," stated Thomas Hayes, chairman at hedge fund Great Hill Funds. "Going forward It's going to be Tesla and the normal incumbents ... which will duke it out for market share."
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