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Lordstown Motors is 'evaluating strategic partners' in funding search

DETROIT, June 21 (Reuters) - Electric vehicle startup Lordstown Motors is “evaluating strategic partners” as part of its search for funding needed to stay in operation, the company’s executive chair, Angela Strand, said Monday.

Lordstown Motors has warned it may not be able to continue as a “going concern” if it cannot raise more money to retool its factory in Lordstown, Ohio, for high-volume production.

Strand is acting as the company’s chief executive while a search is underway to replace Steve Burns, who left the company earlier this month. (Reporting by Joe White; editing by Jonathan Oatis)

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