Foxconn will build electric vehicles for Lordstown Motors as well as its other partner Fisker Inc. at a former GM factory in Ohio, under an agreement announced Thursday.
Lordstown Motors, the beleaguered electric vehicle company that became publicly traded via a merger with a special purpose acquisition company, said Thursday it reached a nonbinding agreement with Foxconn to sell its 6.2-million-square-foot factory. Lordstown purchased the factory in 2019 from General Motors.
Under the agreement, which has yet to close, Foxconn will pay $230 million for the facility. The deal excludes certain assets such as Lordstown’s hub motor assembly line, battery module …
