Struggling EV Maker Announces Leadership Change
June 17, 2021—Lordstown Motors CEO Steve Burns and CFO Julio Rodriguez have resigned from the startup automaker, Fox Business reported.
This news follows the announcement that it may not have enough cash to begin production of its all-electric pickup truck this fall.
The company's Lead Independent Director Angela Strand has been appointed Executive Chair and will oversee the company until a new CEO is found.
The company currently has enough funds to get through May of 2022 and expects to begin building Endurance, its EV truck, in September, according to the Detroit Free Press.