The Department of Justice is investigating Lordstown Motors, according to Wall Street Journal. It is not clear what the DOJ is investigating, but the U.S. Attorney’s Office leading the investigation often oversees false allegations. In the meantime, Lordstown is being held accountable by the SEC for what the company has done in terms of its mandate. Endurance electric vehicle. In both cases, the founders are said to be working with investigators.
“Lordstown Motors is committed to agreeing to any investigation or government or inquiries,” a company spokesman told About. “We look forward to closing this chapter so that our new leadership – and the whole team of volunteers – can focus more on making the first electric-powered car, Lordstown Endurance.”
Lordstown is one of several EV startups that spread last year through what is known as a special buying company or SPAC. The move helped the company raise $ 675 million, but it has been happening ever since. Her problems began in March Hindenburg research published a report criticizing the company for misleading investors in the value of their Endurance vehicle. After that Flood over SEC, the company warned that it has no funds to start making its first EV. With modern news, it also becomes the second start of electric motors monitoring from DOJ and SEC.
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