CollisionWeek

Your source for the latest collision repair industry news, statistics and trend analysis.

  • News
  • Research
  • Feature
  • Subscribe
You are here: Home / News / iPhone Manufacturer Foxconn Broadens Lordstown Motors Strategic Partnership with $170 Million Investment

iPhone Manufacturer Foxconn Broadens Lordstown Motors Strategic Partnership with $170 Million Investment

November 10, 2022 By CollisionWeek Editor

Announce plans to pursue first joint EV program.

Lordstown Motors Corp. (LMC) (NASDAQ: RIDE), the commercial electric vehicle (EV) manufacturer, and Foxconn Ventures Pte. Ltd., an affiliate of global technology company Hon Hai Technology Group that manufacturers iPhones for Apple, announced Foxconn agreed to make additional equity investments in LMC in the form of $70 million of LMC’s Class A common stock and up to $100 million of a newly created Series A Convertible Preferred Stock.

Lordstown Motors announced the start of commercial production of its Endurance all electric pick-up truck in September at the Foxconn EV plant in the

Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options. 

Filed Under: News Tagged With: Agreements Signed, Electric Vehicles, Foxconn, Lordstown Motors, Ohio

Interview Sponsors

IBIS Publisher Partner

Login

Remember Me
Subscribe | Lost your Password?

Tags

AAA AASP/NJ Acquisitions Advanced Driver Assistance Systems Agreements Signed Annual Conference Auto Care Association Automotive Service Association Autonomous Vehicles Awards Axalta Coating Systems Board of Directors Boyd Group California Canada Career and Technical Education CARSTAR CCC Classic Collision Collision Industry Electronic Commerce Association Collision Repair Education Foundation Coronavirus Crash Champions Diagnostics Earnings Electric Vehicles Florida I-CAR Lawsuits legislation LKQ Corporation National Auto Body Council Network Affiliations New Jersey New Vehicle Sales Non-OEM Parts Openings People PPG Industries Regulations Right to Repair Scholarships Texas United Kingdom Workforce Development

Recent Articles

  • 45.1 Million Americans Expected to Travel Domestically for Memorial Day May 22, 2025
  • U.S. Average Vehicle Age Rises to 12.8 Years in 2025 May 22, 2025
  • Doan Group Adds South Carolina Franchise May 22, 2025
  • Carolinas Collision Association Awards $16,000 in Tool Grants to Eight Students May 22, 2025
  • UAP/NAPA Joins I-CAR Canada Sustaining Partnership Program May 22, 2025
  • Wholesale Used-Vehicle Prices Decrease in First Half of May May 21, 2025
  • Congressional Committee Approves Tax Code Changes Benefiting Auto Repair Facilities May 21, 2025

CollisionWeek Membership

  • Login
  • Lost Password
  • Membership Details
  • Register
  • Sponsors
  • Subscription Information
  • Terms of Use for CollisionWeek

More Information

About CollisionWeek
Contact Us
Privacy Policy
Event Calendar
Take the Collision Repair Business Conditions Survey

Copyright 1999-2025 - QuanDec Corporation - All Rights Reserved · Log in