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Lordstown Motors and Foxconn finalize sale of manufacturing facility

Teslarati

Lordstown Motors announced last night it has closed the sale of its manufacturing facility in Ohio to Foxconn after the two companies signed a contract manufacturing agreement and joint venture agreement for product development. Lordstown delays plant sale to Foxconn, needs $150m in capital for production.

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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. The litigation accuses Foxconn of fraud and willful and consistent failure to live up to its commercial and financial commitments to Lordstown. Earlier post.) Earlier post.)

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GM and POSCO Chemical to build new N America factory to process cathode active material for Ultium batteries

Green Car Congress

—Doug Parks, GM executive vice president, Global Product Development, Purchasing and Supply Chain. The new facility will supply the Ultium Cells LLC facilities GM and LG Energy Solution are building in Lordstown, Ohio and Spring Hill, Tennessee. GM is planning for 1 million annual global EV sales by 2025.

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Lordstown Waves Red Flag Over Potential Souring of Foxconn Deal

The Truth About Cars

Foxconn planned to invest up to $170 million in Lordstown and had purchased its home factory in Lordstown, Ohio, for $230 million, but the automaker’s struggles with volume production and cost controls have soured the relationship. & [Image: Lordstown] Become a& TTAC insider.

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New Argonne-developed tool helps car buyers compare electric-drive and traditional vehicles

Green Car Congress

Consumers in seven US Midwest states seeking information about plug-in electric and hybrid vehicles now have access to a new-vehicle purchase guidance tool created by Argonne National Laboratory. States currently covered by the new tool are Illinois, Indiana, Michigan, Minnesota, North Dakota, Ohio, Wisconsin.

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Ohio’s largest solar farm just came online

Baua Electric

According to EDF Renewables North America, the project has secured 20-year fixed-price power purchase agreements with a “strong investment grade counterparty” for the full generation capacity. Plus, it’s free to use and you won’t get sales calls until you select an installer and you share your phone number with them.

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Foxconn fully commits to Lordstown and puts its money where its mouth is

Teslarati

After first investing in Lordstown Motors last year by purchasing its production facility in Ohio, Foxconn has continued to expand its partnership with the automaker. 100 million will go toward a newly created Series A Convertible Preferred Stock, while the additional $70 million will be used to purchase Lordstown’s common stock.