Taiwan’s Foxconn Technology Group has started building electric vehicles for Lordstown Motors Corp., a milestone as the company better known for making iPhones diversifies its operations.

Taiwan’s Foxconn Technology Group completed a transaction with Lordstown Motors Corp. to acquire the electric truck startup’s Ohio factory for $230 million and take over production of its Endurance pickup truck, a critical step as the iPhone manufacturer seeks to diversify into electric vehicles.

Electric truck startup Lordstown Motors Corp.’s shares sank as much as 19% after it pushed back a deadline to complete the sale of its Ohio assembly plant to Foxconn.

Lordstown Motors Corp. agreed to push back the deadline to sell its Ohio factory to Hon Hai Precision Industry Co Ltd., known as Foxconn, dragging out the closure of the vital partnership and offering no guarantee that it will get done.

Lordstown Motors Corp. agreed to push back the deadline to sell its Ohio factory to Hon Hai Precision Industry Co Ltd., known as Foxconn, dragging out the closure of the vital partnership and offering no guarantee that it will get done.

Lordstown Motors Corp. tumbled after the electric vehicle startup said it was disappointed with the progress in its partnership with Foxconn Technology Group, raising questions about a critical deal to sell a factory and begin commercial production.

COLUMBUS, Ohio – The Ohio House passed a bipartisan bill that would give Lordstown Motors a four-year sales tax exemption on engines, transmissions, batteries, brakes and other components that are unique to the production of electric vehicles.

Lordstown Motors Corp. agreed to partner with Foxconn Technology Group in a $280 million deal that has the startup selling its former General Motors Co. factory in Ohio to the Taiwanese company in exchange for cash and an equity investment.

California is fast becoming a leading research, design and manufacturing center for electric vehicles, and Southern California has an outsized part in that development.

Lordstown Motors Corp., the electric-vehicle startup struggling to find cash to move into production, reached a deal to sell as much as $400 million in stock over the next three years to an investment fund managed by Yorkville Advisors Global.