“If we are unable to resolve our dispute with Foxconn in a timely manner on terms that allow us to continue operating as planned, identify other sources of funding, identify a strategic partner and resolve our significant contingent liabilities, we may need to curtail or cease operations and seek protection by filing a voluntary petition for relief under the Bankruptcy Code,” Lordstown said in the filing.
Last year, Foxconn had said it planned to invest as much as $170 million in the startup.
Shares of Lordstown plunged 25 percent in morning trading in New York.
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