CNN —Lordstown Motors filed for bankruptcy protection Tuesday, put itself up for sale, and announced a lawsuit against Foxconn, accusing its biggest shareholder and former partner of setting out to “destroy” its business.
Officially called Hon Hai Technology Group, Foxconn is best known for making iPhones for Apple (AAPL), but has recently made moves toward building electric vehicles.
In 2021, it purchased an Ohio factory that Lordstown Motors had itself bought from General Motors in 2019.
Lordstown Motors headquarters seen in Lordstown, Ohio in 2021.
As of December, Lordstown Motors had just a fraction of that headcount, with 260 full-time employees, according to its latest annual report.
Persons:
CNN —, Foxconn, Edward Hightower, Lordstown, ” Foxconn, ”, “ Foxconn, Lordstown’s, Dustin Franz, It’s
Organizations:
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Locations:
Delaware, Taipei, Ohio, Lordstown , Ohio, California, North America