Foxconn to acquire additional equity in Lordstown Motors for USD170 million

Circular Economy & Remanufacturing

The new deal between the companies comes a year after LMC sold its Ohio-based EV manufacturing plant to Foxconn

Taiwan’s Hon Hai Technology Group, popularly known as Foxconn, has reached an agreement with Lordstown Motors Corporation (LMC) wherein it will make additional equity investments in the latter to the tune of USD170 million, according to a press note issued by Lordstown Motors on 7 November 2022.

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