Apple decides that its electric car project is too hard and it will focus on AI instead. The moves comes as sales momentum for EVs drops in US, and interest in AI rockets.
The post I-phone on wheels: Apple kills electric vehicle project, switches focus…
Tag: foxconn
Lordstown Motors heads toward bankruptcy while suing its investment partner
Lordstown Motors has sued its investment partner Foxconn and filed for Chapter 11 Bankruptcy, sending the stock in a downward spiral on Tuesday morning. The move to sue Foxconn is likely the final step that will close out a partnership between the two companies that was initially established to begin Endurance pickup production and bring […]
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Stellantis partners with Foxconn to develop semiconductors for EVs
Stellantis and Foxconn entered a joint venture to create SiliconAuto, a company dedicated to designing and selling state-of-the-art semiconductors, especially for electric vehicles. SiliconAuto’s semiconductors are tailored for the next generation of vehicles in the automotive industry, namely electric vehicle platforms. Stellantis and Foxconn plan to supply SiliconAuto chips to the automotive industry by 2026. “Stellantis will […]
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Lordstown says it plans to move forward with litigation against Foxconn
Lordstown Motors has never had a smooth road ahead of it. It has been battling money issues, production bottlenecks, and other issues until it was saved by Foxconn in 2021. However, the company is now planning to move forward with litigation against its lifeline in relation to Foxconn’s allegations of a potential breach of contract. […]
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Lordstown Motors financial life raft loses air, automaker on the verge of sinking
Lordstown Motors’ financial life raft, Foxconn, is losing air as it threatened the automaker that it could pull out of its $170 million investment deal, which could send the company sinking into bankruptcy after starting production of its Endurance all-electric pickup. Lordstown Motors filed an 8-K with the SEC today, telling investors that it received […]
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Monarch electric tractors roll off Foxconn assembly lines in Lordstown
The humble Ohio community of Lordstown has played a dynamic role in EV history. The first act of the drama was a typical Rust Belt tragedy—shuttered auto plant, lost jobs. The second was a heart-warming resurrection story—plucky startup builds innovative electric pickup. Next came a tawdry tale of a missed opportunity to electrify postal delivery… Read more »
Foxconn brings EV battery production to two U.S. states
Foxconn, the iPhone manufacturer that bailed out Lordstown Motors from bankruptcy, announced that it would build electric vehicle batteries in Wisconsin and Ohio on Thursday, hoping to take advantage of the Inflation Reduction Act that incentivizes domestic cell manufacturing. Foxconn has long been the manufacturer of Apple’s iPhone, and in 2021, it became a staple […]
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Foxconn Partners With NVIDIA to Build Automated Electric Vehicles
NVIDIA and Hon Hai Technology Group (Foxconn), the world’s largest technology manufacturer, today announced a strategic partnership to develop automated and autonomous vehicle platforms. As part of the agreement, Foxconn will be a tier-one manufacturer…
Foxconn to invest up to $170 million in Lordstown Motors to develop a new EV
Foxconn Ventures has agreed to invest up to $170 million in Lordstown Motors in exchange for all of Lordstown’s outstanding preferred stock and 18.3% of its common stock. Lordstown will use the proceeds to fund the development of a new EV program in collaboration with Foxconn, dubbed the “EV Program.” (Let’s hope they come up… Read more »
Lordstown Motors launches customer deliveries of the Endurance electric pickup truck
Electric truck maker Lordstown Motors announced that its Endurance full-size electric pickup truck has achieved full homologation, a key condition to start sales. Certification has been received from both the EPA (Environmental Protection Agency) and C…
