Daily Business Briefing

June 14, 2021, 1:28 p.m. ET

June 14, 2021, 1:28 p.m. ET

Credit…David Maxwell/EPA, via Shutterstock

Lordstown Motors, an electric vehicle start-up that aimed to revive a shuttered General Motors factory in Ohio, said on Tuesday that it did not have enough cash to start commercial production of its electric pickup truck and might have to close its doors.

The company, which was once held up as a savior by former President Donald J. Trump, is now being investigated by the Securities and Exchange Commission. In a regulatory filing, Lordstown said it will not be able to begin “commercial scale production” without raising more money from investors and lenders.

Lordstown, one of about a dozen start-ups in the electric vehicle space that have gone public by merging with special…

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