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Lordstown Motors said 2021 production will be half expectations, needs capital

DETROIT, May 24 (Reuters) - Lordstown Motors Corp on Monday said 2021 production of its Endurance truck, slated to begin in September, will be half prior expectations and the electric vehicle startup needs additional capital to execute its plans.

“We are still in a position to ramp the Endurance, but we do need additional capital to execute on our plans,” Chief Executive Steve Burns said in a statement. “We believe we have several opportunities to raise capital in various forms and have begun those discussions.”

Reporting by Ben Klayman in Detroit Editing by Chris Reese

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