U.S. electrical truck maker Lordstown Motors stated on Tuesday there was “substantial doubt” about its skill to proceed as a going concern, sending its shares down 16%.

“The firm believes that its present degree of money and money equivalents should not ample to fund industrial scale manufacturing and the launch of sale of such autos,” Lordstown stated in a quarterly filing with the U.S. Securities and Exchange Commission.

“These situations increase substantial doubt concerning our skill to proceed as a going concern for a interval of no less than one yr from the date of issuance of these unaudited condensed consolidated monetary statements,” the corporate added.

A Lordstown spokesman couldn’t instantly be reached for extra remark.

Lordstown, which went public final yr by a reverse merger with a special-purpose acquisition firm (SPAC), has struggled with the launch of its Endurance pickup truck. The truck is being constructed at a former General Motors plant in northeast Ohio.

Last month, Lordstown stated its Endurance manufacturing this yr could be half its prior expectations and it wanted further capital to execute its plans.

In March, Lordstown’s shares slumped after Hindenburg Research disclosed it had taken a brief place on the inventory, saying the corporate had misled shoppers and buyers.

Short sellers wager the worth of a inventory will fall by borrowing shares within the hope of shopping for them again at a less expensive value and pocketing the distinction.

GM, which is a minority shareholder in Lordstown, declined to touch upon the Lordstown submitting.

Lordstown reported a internet loss of $125.2 million for the quarter ended March 31, and had money and money equivalents of about $587 million and an collected deficit of $259.7 million as of March 31.