Lordstown Motors receives court approval of first-day motions

By Sarah Lizee

Olympia, Wash., June 29 – Lordstown Motors Corp. has received approval of its first-day motions from the U.S. Bankruptcy Court for the District of Delaware, according to a press release.

Lordstown said it continues to operate with significant unencumbered cash on hand.

Following the successful hearing, the company said it is prepared to turn its attention to the expedited marketing and sale process for its assets.

The company also said it is “poised to continue vigorously pursuing” its pending litigation against global technology company Hon Hai Technology Group (Foxconn).

The Lordstown, Ohio-based electric vehicle maker filed Chapter 11 bankruptcy on June 27 under case number 23-10831.

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