Foxconn signs definitive asset purchase agreement with EV startup Lordstown to acquire Ohio plant

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Foxconn and LMC will co-design and develop EVs for global commercial fleet market, using the former’s MIH open platform

Taiwanese electronics manufacturer Hon Hai Technology Group, popularly knows as Foxconn, has signed a definitive asset purchase agreement with US-based EV startup Lordstown Motors Corp. (LMC) to acquire latter’s Ohio-based plant, the company updated on 11 November.

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