We knew it was going to happen and now, Taiwanese juggernaut Foxconn has officially closed its deal to purchase the Ohio factory of Lordstown Motors.
Lordstown entered the automotive space with a lot of promises but has so far failed to live up to them. The EV startup purchased the site from General Motors but will now transfer ownership to Hon Hai Technology Group. In addition, Lordstown’s 400 manufacturing employees will be transferred to Foxconn and the iPhone manufacturer will also take on the responsibility of manufacturing the all-electric Endurance pickup truck.
Read Article