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The DOJ is investigating the disturbed EV startup Lordstown Motors

The justice department is investigating Lordstown Motors, according to In the Wall Street Journal. It is unclear what the DOJ is examining, but the U.S. Attorney’s office that directs the investigation often handles allegations of fraud. At the moment, Lordstown is also the subject of an SEC investigation into the claims the company has made about pre-orders for its next Endurance electric pickup. In both cases, the startup says it is working with investigators.

“Lordstown Motors is committed to cooperating with any regulatory or governmental investigations and investigations,” said a company spokesman. The Virgin. “We look forward to closing this chapter so that our new leadership – and the entire dedicated team – can focus solely on the production of the first and best full-size all-electric pick-up, Lordstown Endurance.”

Lordstown was one of several EV startups that went public last year because of what is known as a special acquisition company or SPAC. The maneuver helped the company raise $ 675 million, but it has been engaged ever since. His problems began in March when Search Hindenburg has released a report accusing the company of misleading investors over the demand for its Endurance truck. In an afterthought SEC Archive, the company warned that it did not have enough money to start manufacturing its first EV. With today’s news, it also becomes the second high-profile electric vehicle startup to come under fire scrutiny by the DOJ and SEC.

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