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UPDATE: Lordstown Announces $280 Million Deal To Sell Ohio Plant To Taiwan-Based Foxconn

October 2, 2021
Source: tfltruck.com tfltruck.com
News Snapshot:
Electric startup Lordstown is reportedly low on cash — and this deal could prop up its efforts to launch the Endurance this year. UPDATE: Lordstown officially announced its plan to partner with Foxconn Technology Group in a $280 million deal Thursday. The company will sell its plant for $230 million, while Foxconn will acquire $50 million in common stock in its new partner, and will assemble the Endurance pickup. The two sides are still working out a manufacturing agreement, but Foxconn plans to start Endurance production at the Ohio plant in April 2022. Lordstown will keep its assembly lines to...
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