Chinese Foxconn buying Lordstown Auto
The Lordstown auto plant, once owned by General Motors and purchased by startup Lordstown Motors for $20 million, is being purchased by Chinese electronics firm Foxconn, best known for assembling most Apple products.
Foxconn has been expanding in the United States, largely at Apple’s behest, and some see the move as paving the way for Foxconn to make cars for Apple. However, they may simply be buying into the rapidly growing electric car industry; Lordstown Motors has produced a worthy prototype but did not have the financial resources to tool up and produce it. For that reason, not only is the Lordstown Endurance a year behind already, but will make it into production considerably behind the Rivian pickup.
Clark Westfield grew up fixing up and driving past-their-prime American cars, including various GM and Mopar V8s. He has ghostwritten auto news for the last few years, lives in Farmingdale, New York, and can be reached at +1.516-531-4021.