Lordstown Motors Corp. (LMC) and Foxconn announced that they reached an agreement pursuant to which Foxconn agreed to make additional equity investments in LMC (collectively, the “Investment Transactions”) in the form of $70 million of LMC’s Class A co…
Tag: foxconn
Foxconn fully commits to Lordstown and puts its money where its mouth is
Foxconn put its money where its mouth is by fully committing to Lordstown Motors with a new $170 million investment package that secures a future collaboration for a joint electric vehicle project. After first investing in Lordstown Motors last year by purchasing its production facility in Ohio, Foxconn has continued to expand its partnership with […]
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Saudi Arabia partners with Foxconn on new EV brand
Saudi Arabia’s Public Investment Fund and Taiwan-based technology manufacturer Foxconn entered into a joint venture to develop and manufacture electric vehicles. Saudi Arabia’s foray into the global EV market is another step forward in its Vision 2030 goal to reduce its reliance on oil. Saudi Arabia’s Crown Prince Mohammad bin Salman bin Abdulaziz and Prime […]
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Saudi Arabia Launches First Electric Vehicle Company
The Crown Prince of Saudi Arabia has launched Ceer, the first Saudi electric vehicle brand, as part of a push to diversify the economy of the oil rich country. A joint venture between the kingdom’s sovereign wealth fund and Taiwanese technology c…
Foxconn launches two new EVs, targets contract manufacturing market
Everybody seems to be getting into the EV game these days, but Foxconn, which is famous as a contract manufacturer for Apple, is no newcomer to the field—it has been working to produce an EV since 2014. In 2021, Foxconn made a deal with Lordstown Motors, under which it bought a chunk of the latter’s… Read more »
Foxconn showcases three new EV models at annual Hon Hai Tech Day
Hon Hai Technology Group (“Foxconn”), the world’s largest technology manufacturer and service provider, announced two, new self-developed concept prototype electric vehicles at its third annual Hon Hai Tech Day (HHTD): the MODEL B crossover hatch…
INDIEV and Foxconn Sign MOU to Produce Prototype INDI One in Ohio
California electric vehicle start-up Independent Electric Vehicles (IndiEV) and Foxconn announced the signing of a Memorandum of Understanding (MOU), paving the way for Foxconn Ohio to manufacture the first INDI One prototype vehicles. Regarding the pa…
Lordstown Motors Begins Production of Endurance Electric Pickup Truck
Electric truck maker Lordstown Motors has started commercial production of its Endurance full-size pickup truck, and provided a business update. The company has so far built two trucks for customers at its Foxconn EV Ohio plant. It expects to complete …
Lordstown Motors and Foxconn finalize sale of manufacturing facility
Lordstown Motors announced last night it has closed the sale of its manufacturing facility in Ohio to Foxconn after the two companies signed a contract manufacturing agreement and joint venture agreement for product development. After several years of delays and challenges that prevented the launch of its Endurance all-electric pickup truck, Lordstown announced in early […]
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Fisker and Foxconn Confirm Fisker PEAR Production in Ohio
Fisker Inc. confirmed that it will produce its second vehicle, the Fisker PEAR, at a factory Foxconn acquired in Ohio. The Fisker PEAR will enter production in 2024. Both the Fisker and Foxconn teams are fully engaged and expect to build a minimum of 2…
