Lordstown Motors Joins Electric-Vehicle Rush to Stock Market (1)

Lordstown Motors Corp., the electric-truck startup that stepped in to save a shuttered General Motors Co. factory in Ohio, will be listed on the Nasdaq and gain an infusion of $675 million through a merger with a publicly traded funding vehicle.

The company will trade under the symbol RIDE after the deal with DiamondPeak Holdings, it said in a statement Monday. Lordstown plans to use the proceeds to fund production of its Endurance electric pick-up truck at the former GM plant, which is expected to begin in the second half of next year.

Rendering of the Endurance pickup truck

Source: Lordstown Motors

The startup’s deal with ...