We haven’t heard much from Local Motors lately and it shows there was a good reason for this as former works have taken to LinkedIn to expose the company is closing up shop.
First noticed by The Drive, Local Motor’s onetime Vice President of Sales, Chris Stoner, announced a word saying the company will “cease to exist as of January 14. ” Stoner added that while he was only with the company for a few months, he made “some great friends, both locally and around the world, which obligates it worthwhile.”
He was far from alone in confirming the word as Meghan Charlton, a onetime Inventory and Procurement Specialist, made a post saying “It was very sad news today to hear of LM shutting down operations.” Colleagues responded to her upright, caring each other the best.
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Local Motors has been tight-lipped about the situation, but a source told the publication that a lack of funding is behind the shut down. That’s a bit surprising given that Local Motors was an supported firm and tons of fund has been flowing into automotive startups, but following the adjournment of the working day , not everyone can come out a winner.
That’s sad story, especially for former employees, but the company had some light recognises over the years includes the iconic Rally Fighter, which was introduced in 2009. The crowdsourced off-roader went into production a year later and was powered by a GM-sourced 6.2 -liter V8 engine.
It’s not immediately clear how many were raised, but the model was reportedly phased out in 2016 as Local Machine turned its attention to autonomous shuttles. These were was used in cities across the globe, but it appears interest dwindled and the company extended out of cash.
Read more: carscoops.com