Foxconn buys Ohio electric vehicle factory once touted by Donald Trump
Foxconn has officially agreed to buy the former General Motors plant in Lordstown, Ohio from struggling EV startup Lordstown Motors, giving the iPhone assembler its first automotive factory and a second chance at establishing a manufacturing foothold in the United States. The Taiwanese conglomerate has spent the last year buying up or partnering with companies in the electric vehicle space in a massive effort to diversify away from laptops and smartphones.
The two companies announced Wednesday that they've agreed to the framework deal first announced in September, meaning Foxconn will pay Lordstown Motors $230 million for the 6.2-million-square-foot factory. Foxconn has also agreed to contract manufacture Lordstown Motors' electric...