Foxconn is shopping for Lordstown Motors’ Ohio EV manufacturing facility for $230 million


Lordstown Motors Headquarters Ahead Of Earnings Figures

iPhone assembler Foxconn is shopping for an automotive manufacturing facility from struggling EV startup Lordstown Motors for round $230 million, the businesses introduced late Thursday. Foxconn says it has agreed to construct Lordstown Motors’ electrical pickup truck on the plant, which is the place Common Motors used to make the Chevrolet Cruze, and that the startup will stay a tenant there. Lordstown Motors can even “agree to supply Foxconn with sure rights with respect to future car applications.”

The deal offers the Taiwanese conglomerate its first automotive manufacturing facility, and a major new presence in the USA — one which the corporate will use because it tries to ascertain itself as a worldwide electrical car automaker. Foxconn beforehand introduced a…

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