Lordstown Motors, an Electric Truck Maker, Files for Bankruptcy

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Lordstown Motors, the troubled electric pickup truck company that bought a shuttered General Motors factory in Ohio, filed for bankruptcy protection on Tuesday.Once hailed by former President Donald J. Trump for preserving manufacturing jobs, the company struggled with a series of development setbacks and frequent management changes, and never managed to make or sell many trucks.The Chapter 11 bankruptcy filing was prompted by a dispute with a major investor, Foxconn, the contract manufacturer that is based in Taiwan. Foxconn said Lordstown had breached their investment agreement because its stock had fallen below $1 a share. Lordstown said on Tuesday it had filed a lawsuit asserting that Foxconn failed to honor its agreement to invest more money into the company.Lordst …

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