Lordstown Motors CEO resigns after investigation into preorders

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President Trump Tours New Lordstown Endurance Electric Pickup Truck
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Steve Burns, the CEO of General Motors-backed startup Lordstown Motors, has resigned following an investigation into allegations that he and other executives lied about preorders for the company’s electric pickup truck. The startup’s chief financial officer Julio Rodriguez has also resigned.

The resignations come just weeks after Lordstown Motors admitted that it needs more money to execute on its production plans for the pickup truck and its auditor saying the company may run out of cash, despite raising nearly $700 million late last year. It’s one of many electric vehicle startups running into trouble after going public by merging with a special purpose acquisition company.

The investigation found that while Lordstown Motors said on…

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Gogoro is joining the battery swapping revolution in China

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Electric scooter company Gogoro continues to expand outside its home country of Taiwan in a big way, as it just announced new partnerships with a pair of China’s leading two-wheel manufacturers.

DCJ, the top gas-powered motorcycle company in China, and Yadea, one of the biggest makers of electric scooters, motorcycles, bikes and mopeds, have each agreed to develop new two-wheelers that will use Gogoro’s swappable batteries and electric drivetrains.

Gogoro CEO Horace Luke tells The Verge the deals with DCJ and Yadea have been in the works for around two years and that the Chinese companies dug deep into Gogoro’s technology before deciding to partner up. The three companies are announcing the deals just as the Chinese government has begun…

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