Lordstown Motors sells Lordstown facility to Foxconn for $230M

Lordstown Motors closed the sale of its Lordstown, Ohio vehicle assembly plant to Foxconn for $230 million, plus reimbursement of approximately $27 million in operating and expansion costs. The deal includes a contract manufacturing agreement for the Endurance electric pickup truck.

“Lordstown Motors Corp. today announced that it has closed the sale of its Lordstown facility and signed a contract manufacturing agreement and joint venture agreement for product development with affiliates of Hon Hai Technology Group.”prnewswire.com

• 1 source
• prnewswire.comLordstown Motors and Foxconn Close Asset Purchase Agreement and Enter into JV Agreement for MIH Based EV DevelopmentLordstown Motors Corp.May 11, 2022

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