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WSJ What’s News

EV Truck Maker Lordstown Files for Bankruptcy

WSJ What’s News

The Wall Street Journal

News, Daily News

44K Ratings

🗓️ 27 June 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

A.M. Edition for June 27. Electric-truck maker Lordstown says it is filing for chapter 11 bankruptcy protection, becoming the latest aspiring EV manufacturer to stumble in pursuit of revolutionizing the car market. Plus WSJ deputy China bureau chief Yoko Kubota details how Western firms are siloing their China businesses to lower risks from geopolitical tensions. And why private equity-backed deals keep getting smaller. Luke Vargas hosts. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

WSJ Special Access gives you a front row seat to some of the Wall Street Journal's most exciting content,

0:06.3

including exclusive live events and interviews with top executives and newsmakers,

0:11.1

only for subscribers and only on Spotify.

0:15.7

Hey what's news listeners, this is Luke Vargas, and we want to hear from you about what you like about the show,

0:21.3

and which episodes of what's news you usually listen to.

0:25.0

Whether that's usually the AM or PM edition, both, or whatever's most recent.

0:30.2

If you're listening to this on Spotify, look for our poll under the episode description

0:34.6

or send us a note to wnpod at wsj.com.

0:39.1

Now onto the show.

0:44.8

EV Startup, Lordstown, Files for bankruptcy.

0:48.8

Plus companies adopt a new strategy to try and stay in China,

0:53.6

siloing their operations.

0:55.8

If US-China relations worsen, some of these risks may be able to be prevented from spilling over

1:01.7

into the rest of the world's businesses that they're running.

1:04.4

But in the meantime, it also lets companies keep selling into this humongous market.

1:09.4

And we'll look at why private equity backed deals keep getting smaller.

1:14.7

It's Tuesday, June 27th.

1:16.6

I'm Luke Vargas with the Wall Street Journal, and here is the AM edition of What's News.

1:22.1

The Top Headlines and Business Stories, Moving Your World Today.

1:31.3

Lordstown Motors has filed for bankruptcy.

1:34.8

The electric truck company once cheered by investors during the SPAC boom and lauded by former

1:40.1

president Donald Trump as a savior for a closed general motors factory in Ohio says it has

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