Lordstown Motors CEO and CFO resign, stock tumbles
Lordstown Motors announced the abrupt departure of its two top executives and said its board found evidence of inaccurate statements.
www.autoblog.com
Lordstown Motors CEO And CFO Resign
The automaker has just announced changes to its executive management team with Steve Burns and Julio Rodriguez resigning from their roles.
www.motor1.com
Is this the beginning of the end of EV startups, or at least the beginning of the end of our infatuation with (and resulting sky-high stock prices of) EV startups?
I have long believed that over-valued market capitalizations (and over-promises and under-deliveries) of EV startups including China's NIO and XPeng, and Nikola and Lordstown Motors (and Tesla) would eventually result in a (massive) correction, the resignation of their larger-than-life CEOs and perhaps of the eventual collapse of some of these companies.