Apple supplier Foxconn acquires Lordstown Motors vehicle factory for $230 Million
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Apple's largest manufacturing partner Foxconn is moving ahead with a plan to acquire a Lordstown Motors vehicle assembly plant in Ohio for $230 million, the companies have announced. The cash-strapped electric vehicle start-up will find some relief from the capital infusion, while the partnership gives Foxconn a jump start on producing fully electric trucks. Shares of Lordstown rose more than 13 per cent hours after the news broke, reports CNBC.
