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Electric vehicle maker Fisker filed for Chapter 11 bankruptcy protection, the second electric startup to do so in the last year as even industry leaders struggle to lure more buyers.

CLEVELAND, Ohio — The former CEO of Lordstown Motors Corp. has bought the company’s assets for $10 million, according to documents filed with the U.S. Securities and Exchange Commission.

Lordstown Motors Corp. has agreed to pay $40 million to settle a Karma Automotive lawsuit alleging that the company lifted designs and technology to develop its flagship Endurance truck.

A Delaware judge permitted vehicle maker Karma Automotive to move forward with an upcoming trial in California against Lordstown Motors Corp. despite Lordstown's filing for bankruptcy.  

Commercial electric vehicle startup Lordstown Motors Corp. has filed for Chapter 11 bankruptcy protection nearly two months after it warned that it was in danger of failing.

Lordstown Motors Corp. intends to sue backer Foxconn Technology Group as the companies remain at odds over a stalled investment in the EV startup.

Foxconn hasn’t made good on its pledge to acquire enough Lordstown shares to build an 18.3% stake in the company, and now a dispute threatens to sink the electric vehicle startup.

Amerit Fleet Solutions will provide service and maintenance for commercial fleet customers of U.S.-based electric vehicle manufacturer Lordstown Motors, the companies said April 18.

Taiwan’s Foxconn Technology Group has started building electric vehicles for Lordstown Motors Corp., a milestone as the company better known for making iPhones diversifies its operations.

Taiwan’s Foxconn Technology Group completed a transaction with Lordstown Motors Corp. to acquire the electric truck startup’s Ohio factory for $230 million and take over production of its Endurance pickup truck, a critical step as the iPhone manufacturer seeks to diversify into electric vehicles.