Remove Legal Remove Ohio Remove Purchase Remove Sale
article thumbnail

Lordstown Motors continues cash flow woes, sells Ohio plant to iPhone manufacturer Foxconn

Teslarati

Lordstown Motors, an electric vehicle startup based in Ohio, has announced that it has agreed in principle to work jointly on electric vehicle programs with iPhone manufacturer Hon Hai Technology Group, more commonly known as Foxconn. Foxconn appears to be Lordstown’s choice. Don’t hesitate to contact us with tips!

Ohio 86
article thumbnail

Lordstown Motors files for Chapter 11, sues Foxconn; selling off Endurance electric pickup

Green Car Congress

Lordstown is commencing a comprehensive marketing and sale process for the Endurance electric pickup and related assets. Jefferies is acting as financial advisor to the Company, and White & Case LLP is acting as legal counsel. Earlier post.) Earlier post.)

Motor 150
article thumbnail

Former Lordstown CEO Given Permission to Buy Back Company Assets for $10 Million

The Truth About Cars

Ohio-based Lordstown Motors has received approval from the U.S. It’s estimated he made roughly $60 million from share sales, which include a large sale made just days before Lordstown filed for Chapter 11.& Following the SPAC merger with DiamondPeak Acquisition Corp.

Buy 115
article thumbnail

Lordstown Motors Goes Bust

The Truth About Cars

Though the writing was already on the wall for the Ohio-based electric vehicle manufacturer. Foxconn originally hoped to continue discussions and reach a solution that could satisfy all stakeholders, without resorting to baseless legal actions, but so far the two parties have yet to reach a consensus. On Tuesday, Lordstown Motors Corp.

Motor 105
article thumbnail

The EV Transition Explained: Policy Roadblocks

Cars That Think

In addition, the lack of relevant legal or industry expertise is increasingly worrisome. This may become a major operational and legal problem at the federal level as thousands of new employees are hired across multiple federal departments and agencies to carry out the Biden Administration’s environmental policies.

Grid 96
article thumbnail

Lordstown Motors recordsdata for Bankruptcy 11 chapter, sues Foxconn, seeks purchaser

Baua Electric

Foxconn, in a remark, stated it used to be hoping it might unravel the dispute thru negotiations, with out resorting to “baseless legal actions.” Lordstown filed for chapter with plans to hunt a purchaser. ” It stated Lordstown’s remark incorporates “false comments” and “malicious attacks.”