Lordstown Motors closes assets sale to Foxconn; JV agreement for MIH-based EV development
Green Car Congress
MAY 12, 2022
Lordstown Motors, an OEM of electric light-duty trucks focused on the commercial fleet market, has closed the sale of its Lordstown facility and signed a contract manufacturing agreement and joint venture agreement for product development with affiliates of Hon Hai Technology Group (Foxconn). As previously disclosed, on 10 November 2021, Lordstown Motors and Foxconn entered into an Asset Purchase Agreement (APA) providing for the sale of LMC’s Lordstown, Ohio vehicle assembly plant to Foxconn fo
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