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Lordstown Motors Corp. (NASDAQ: RIDE) is forging ahead with its battery-electric commercial Endurance pickup truck despite ousting its founder, CEO and chief financial officer following a “going concern” filing last week with the Securities and Exchange Commission. The startup that went public last October in a business combination with special purpose acquisition company (SPAC) Diamond Peak Holdings Corp. has enough cash to build trucks through May 2022, President Rich Schmidt told the Automotive Press Association in Detroit on a Zoom call Tuesday.
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