Previously, US-based electric truck maker Lordstown Motors had awarded Greatech orders worth about RM250 million for the supply of two battery pack assembly lines. “We know they [Lordstown Motors] are a start-up and the risks [of being a start-up]. “For the electric vehicle segment, it is not limited to Lordstown Motors. While Tan is not at liberty to comment on Lordstown Motors’ financial woes, he believes it is not uncommon for start-ups to raise funds to support their expansion. Lordstown Motors was not one of them, however, as its contribution kicks in only this year, says Tan.

Source: The Edge Markets June 22, 2021 09:00 UTC