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Lordstown Motors in talks to sell its 6.2M-square-foot factory to Taiwans Foxconn

October 1, 2021
Source: baillytech.com baillytech.com
News Snapshot:
Lordstown Motors in talks to sell its 6.2M-square-foot factory to Taiwans Foxconn EV startup Lordstown Motors made headlines when it purchased a 6.2 million-square-foot factory from General Motors in 2019. Now, it looks like the strapped-for-cash startup will likely sell that facility to Taiwan’s Foxconn Technology Group. The news was first reported by Bloomberg , who said unnamed sources suggested the deal could close as early as this week. Lordstown executives had said during a second quarter earnings call that the company was in “serious discussions” with partners to lease the northeast Ohio facility to other companies, so news of...
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Tags: Bloomberg | cash | CEO | Chinese | contract | electric vehicle | EV | executive | facility | factory | finance | financial | Foxconn | Geely | iPhone | IT | joint venture | manufacturer | manufacturing | Oil | SPAC | supplier | technology | Thailand | Zhejiang

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