Lordstown Motors expects to finish manufacturing of its Endurance pickup truck “within the close to future,” because the embattled EV startup runs out of money and seeks extra capital.

The feedback, a part of an unannounced Thursday quarterly earnings submitting, come three days after the Ohio-based firm stated it could go bankrupt if a beforehand introduced take care of contract producer Foxconn falls by way of.

“So far, now we have not recognized a strategic accomplice for the Endurance. To the extent we don’t determine such a accomplice, we anticipate that manufacturing of the Endurance will stop within the close to future,” the once-promising firm stated within the submitting.

Foxconn, a Taiwanese maker of Apple iPhones and different merchandise, final month alleged that Lordstown was in breach of an funding deal as a result of its inventory had fallen below $1 per share for 30 consecutive buying and selling days, triggering a delisting discover from NASDAQ.

Lordstown stated Thursday its web loss widened to $171.1 million within the first quarter, in contrast with a lack of $89.6 million a 12 months earlier. The corporate stated it had money and money equivalents of simply $108.1 million as of March 31, down 11% to start the 12 months.

Shares of the corporate have been largely unimpacted by the Thursday submitting, nonetheless, the inventory hit an all-time low of 25 cents per share on Monday.

It is a growing story. Please test again for extra updates.