LORDSTOWN — Lordstown Motors Corp. and Foxconn have finalized an agreement for the Taiwanese technology and electronics giant to purchase the electric-vehicle startup’s automobile assembly plant.
Closing the agreement — announced Wednesday after the market closed — means Foxconn will now become the contract manufacturer for Lordstown Motors’ flagship vehicle, the Endurance pickup truck, and the companies came to terms on a joint venture agreement to co-develop electric vehicle programs.
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Story excerpt provided by The Vindicator.
Written by Ron Selak Jr.
Originally published May 12, 2022.