Lordstown Motors faces bankruptcy as Foxconn deal falls apart.
TL;DR Summary
Lordstown Motors' stock fell by 29% after Foxconn threatened to end their deal, which would leave the EV maker without critical funding necessary for its operations. The two companies had announced a deal in 2021, and Foxconn had bought Lordstown's factory in May 2022. Lordstown Motors warned of bankruptcy without the funding from Foxconn.
- Lordstown Motors stock down 29% after Foxconn threatens to pull out of deal, auto maker warns of bankruptcy MarketWatch
- Lordstown Motors warns of bankruptcy after Foxconn threatens to walk away from crucial funding deal CNBC
- Lordstown Motors Warns of Bankruptcy as Foxconn Deal Unravels Bloomberg
- Foxconn alleges Lordstown Motors breached investment agreement WFMJ
- View Full Coverage on Google News
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