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Lordstown Selles Ohio Electric Vehicle Factory to Foxconn, Taiwan

News Snapshot:

Lordstown, Ohio: Electric truck maker Lordstown Motors Corp. has sold its Ohio factory to Foxconn Technology Group in Taiwan for $ 230 million. Lordstown Motors signed a contract with General Motors to purchase the plant in late 2019. The sale will provide the funds needed to mass produce an electric pickup truck named Endurance. For Foxconn, Apple Inc.’s largest iPhone assembler, the factory will instantly give a foothold in car manufacturing in the United States as it drives the manufacture and sale of electric vehicles. Industry observers say that selling the facility and running it in parallel with Foxconn could…

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