iPhone Manufacturer Foxconn Broadens Lordstown Motors Strategic Partnership with $170 Million Investment - Collision Week

Announce plans to prosecute archetypal associated EV program.

Lordstown Motors Corp. (LMC) (NASDAQ: RIDE), the commercialized electrical conveyance (EV) manufacturer, and Foxconn Ventures Pte. Ltd., an affiliate of planetary exertion institution Hon Hai Technology Group that manufacturers iPhones for Apple, announced Foxconn agreed to marque further equity investments successful LMC successful the signifier of $70 cardinal of LMC’s Class A communal banal and up to $100 cardinal of a recently created Series A Convertible Preferred Stock.

Lordstown Motors announced the commencement of commercialized accumulation of its Endurance each electrical pick-up motortruck successful September astatine the Foxconn EV works successful the