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Lordstown Motors Announces Strategic Restructuring Process

/PRNewswire/ Lordstown Motors Corp. (Nasdaq: RIDE), ("Lordstown" or the "Company"), an original equipment manufacturer (OEM) of electric light-duty vehicles. ....

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EV Maker Lordstown Motors Announces Chapter 11

Files Complaint Against Foxconn that Details Fraud, Bad Faith and Repeated Contractual Breaches Leading to Value Destruction Commences Comprehensive Sale Process for Endurance Truck and Related EV Assets Files Chapter 11 to Implement Restructuring in Efficient Manner Company is Debt-Free and Continues to Operate with Significant Cash-on-Hand LORDSTOWN, Ohio, June 27, 2023 Lordstown Motors Corp. , ("Lordstown" or the "Company"), an original equipment manufacturer (OEM) of electric light-duty vehicles focused on the commercial fleet market, today announced a strategic restructuring process to maximize the value of its assets: its on-the-road Endurance all-electric (EV) pickup truck and the intellectual property, platform and people that developed it. As part of the process, Lordstown today filed litigation against global technology company Hon Hai Technology Group (TWSE: 2317; LSE:HHPD) and certain of its affiliates, including Foxconn Ventures Pte. ....

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