Lordstown Motors announced 40,000 pre-orders only 2 years ago. Current economic conditions won’t make this Lordstown ride less bumpy. Read to know why I recommend a sell.
Fisker and Foxconn said Thursday they will partner to build Fisker’s second all-electric model, the PEAR Urban Lifestyle EV, in Ohio now that Foxconn has purchased the former Lordstown Motors plant.
Lordstown Motors has closed a deal to sell its 6.2 million-square-foot Ohio factory to Foxconn for $230 million plus the reimbursement of approximately $27 million in operating and expansion costs.
Lordstown Motors said in a filing with the SEC that it has not yet closed a $230 million deal with Foxconn ahead of a May 14 deadline that would allow it to remain a going concern.