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Foxconn buys Lordstown Motors’ Ohio plant for USD230 million, future EV programs

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Corporate developments

Foxconn will also purchase about USD50 million of Lordstown Motors’ common stock

Taiwanese electronic products manufacturer Foxconn and Lordstown Motors Corporation, which makes electric light commercial vehicles (eLCVs), have reached an agreement in principle wherein former will purchase the latter’s Ohio-based plant for USD230 million, the company announced on 1 October.

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