TAIPEI -- Foxconn has struck a deal to acquire its first electric vehicle manufacturing plant in North America, part of $280 million in deals with U.S. electric vehicle startup Lordstown Motors that also include a share purchase.
The Taiwanese tech giant said on Friday morning it will take a roughly 4% stake in Lordstown for around $50 million and also buy the American company's manufacturing complex in Ohio for $230 million. Foxconn will produce Lordtown's Endurance full-size pickup truck as part of the facility purchase agreement, the two companies said.
