Lordstown Motors Corp. is being probed by the US Justice Department in relation to claims that the company exaggerated potential sales of its electric Endurance pickup truck, a person familiar with the matter said. “Lordstown Motors is committed to cooperating with any regulatory or governmental investigations and inquiries," company spokesman Ryan Hallett said by email. The company went public in November through a merger with special purpose acquisition company DiamondPeak Holdings that netted Lordstown $675 million. (Also read | Lordstown Motors says 2021 production will be half of expectations)The Lordstown Motors Endurance electric pickup truck sits on stage during an unveiling event in Ohio. The so-called reverse mergers have sparked criticism because they’ve made public companies out of young ventures with little in the way of revenue or commercially viable products.

Source: Hindustan Times July 03, 2021 13:30 UTC