Enlarge / Peter Beck, founder of Rocket Lab, is seen as essential to Rocket Lab’s success. (credit: Rocket Lab) Running a rocket launch company is an expensive proposition. You need hundreds of employees, lots of expensive machines and tooling, plenty of hardware, and at least one launch site. To make matters worse, for a purely […]
Enlarge / Lordstown Motors’ factory in Lordstown, Ohio. It’s been a tough time recently for Lordstown Motors. The Ohio-based electric truck startup was accused of misleading investors about the extent of its order books, which led to an investigation by the US Securities and Exchange Commission; this in turn led the company to issue a […]
Enlarge / Lordstown Motors says it will begin limited production of the Endurance EV truck later in 2021. (credit: Lordstown Motors) Life just isn’t getting any easier for Lordstown Motors. Last week, the startup issued a “going concern” warning, telling investors that it might not be able to start production of its electric work truck […]
Enlarge / Fisker now has a market cap of $4.1 billion thanks to a SPAC reverse merger in 2020. It says that the Ocean SUV will be the most sustainable vehicle ever sold. (credit: Fisker) With technology disrupting the automotive industry, investors have raced to secure exposure to potential winners—whether battery makers, manufacturers of other […]
(charge: Luminar) Luminar creator Austin Russell has come to be among the youngest self-made billionaires following the lidar manufacturer surfaced on public markets on Thursday. Russell, 25, was only 17 when he set Luminar at 2012. Shares of Luminar climbed above $30 per share on Friday, a large 43 percent profit for the afternoon in […]