Lordstown Motors Partners With Foxconn In $280 Million Deal

Agent009 submitted on 10/1/2021 Auto Spies Photos Timestamp: 10:44:00 AM

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

Under terms of the transaction, Lordstown Motors will sell the Lordstown factory to Foxconn for about $230 million after buying it from GM for just $20 million two years ago.

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Lordstown Motors Partners With Foxconn In $280 Million Deal

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