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
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