U.S. electric truck manufacturer Lordstown Motors filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan's Foxconn .
“The bankruptcy of Lordstown signals that the days of successful EV startups is in the rear-view mirror,” said Thomas Hayes, chairman at hedge fund Great Hill Capital. “Moving forward it will be Tesla and the traditional incumbents … that will duke it out for market share.”
Meanwhile at Rivian: 👋