Lordstown Motors

Business, Technology, Fuel, Autonomous

Foxconn Completes Acquisition of Lordstown Factory

Endurance truck Endurance electric pickup truck. (Matthew Hatcher/Bloomberg News)

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.

Debby Wu and Kevin Miller | Bloomberg News
May 12, 2022
Business, Equipment, Fuel

Lordstown Motors Again Postpones Deadline for Foxconn Plant Deal

The Lordstown Motors Corp. Endurance electric pickup truck The Lordstown Motors Corp. Endurance electric pickup truck. On May 9, Lordstown signaled delays in plans for mass production of the pickup. (Matthew Hatcher/Bloomberg News)

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.

David Welch | Bloomberg News
May 9, 2022
Business, Technology, Equipment

Lordstown, Foxconn Delay Ohio Factory Sale Deadline

The Foxconn plant in Lordstown, Ohio The Foxconn plant in Lordstown, Ohio. (Kathryn Kennedy for Transport Topics)

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.

May 2, 2022
Business, Fuel

Lordstown, Foxconn Delay Factory Sale Deadline to Mid-May

Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio. (Dustin Franz/Bloomberg News)

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.

April 29, 2022

Lordstown Slumps as CEO Warns of Hurdles in Foxconn Deal

Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio. Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio. (Dustin Franz/Bloomberg News)

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.

Sean O'Kane | Bloomberg News
February 28, 2022
Government, Business, Fuel, TCA

Lordstown Motors Poised for Tax Exemptions Under Ohio Bill

Lordstown Nears Deal to Sell Ohio Plant to Taiwan’s Foxconn Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio. (Dustin Franz/Bloomberg)

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.

Laura Hancock | cleveland.com
November 19, 2021
Business, Technology, Logistics

Lordstown to Sell Ohio Plant to Foxconn in $280 Million Deal

Lordstown Nears Deal to Sell Ohio Plant to Taiwan’s Foxconn Signage outside Lordstown Motors Corp. headquarters in Lordstown, Ohio. (Dustin Franz/Bloomberg)

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.

David Welch | Bloomberg News
September 30, 2021
Business, Technology, Equipment, Fuel, TCA

Why Southern California Is the New EV Mecca

An RT1 truck is assembled and tested on the factory floor at the Rivian factory in Normal, Ill. An RT1 truck is assembled and tested on the factory floor at the Rivian factory in Normal, Ill. (Brian Cassella/Chicago Tribune via Tribune Content Agency)

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

Jeff Collins | The Orange County Register
August 2, 2021
Business, Technology, Fuel

Lordstown May Raise Millions From Investment Fund

 The Lordstown Motors Endurance electric pickup truck The Lordstown Motors Endurance electric pickup truck during its unveiling event in Lordstown, Ohio. (Matthew Hatcher/Bloomberg News)

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.

July 26, 2021
Business, Technology, Fuel

Lordstown Motors Drops on Report of Justice Probe

The Lordstown Motors Endurance electric pickup truck sits on stage. (Matthew Hatcher/Bloomberg News) Matthew Hatcher/Bloomberg News

Lordstown Motors Corp. slid after the Wall Street Journal reported that the troubled electric-vehicle startup is being probed by the U.S. Justice Department.

July 2, 2021

Pages