The Department of Justice has opened an investigation into troubled electric vehicle startup Lordstown Motors, which is backed by General Motors and went public late last year but has yet to get its pickup — the Endurance — into production.
It’s the second official probe into the startup, as the Securities and Exchange Commission opened an investigation earlier this year into Lordstown Motors executives’ misleading claims about how many preorders it had logged for the Endurance. It’s unclear exactly what the Justice Department is examining, though SDNY often focuses on financial crimes and allegations of fraud.
“Lordstown Motors is committed to cooperating with any regulatory or governmental investigations and inquiries,” a representative for the startup said in a statement. “We look forward to closing this chapter so that our new leadership – and entire dedicated team – can focus solely on producing the first and best full-size all-electric pickup truck, the Lordstown Endurance.”
Read the article at The Verge.
