Category: lordstown

Lordstown, Foxconn Postponed Ohio Factory Sale Deadline

May 3, 2022
Business & EconomyCompaniesFoxconnlordstownOhio
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Lordstown Motors Corp. agreed to push back the deadline to sell its Ohio factory to Hon Hai Precision Industry Co. Ltd., operating as Foxconn, Bloomberg reports. The struggling EV startup needs to repay Foxconn if the deal does not close by May 14. Foxconn acknowledged that the two sides were still negotiating in a “positive and active…

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Ohio County Portends Political Shift Ahead of 2022 Midterms

February 22, 2022
Endurance trucksGMlordstownMahoning CountyOhiosteel industryUSUS Featuresyoungstown
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When rock’n’roll star Bruce Springsteen belted out the phrase “Down in Youngstown” in one of his hit songs nearly 30 years ago, it referred to the struggles of Americans in a steel-mill town in northeast Ohio’s Mahoning County. The 1995 song title was “Youngstown,” and it pointed to the importance of the industrial anchor for…

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Struggling Startup Lordstown Motors Gets $400 Million Investment

July 27, 2021
BusinessCompaniesinvestmentslordstownproductionsubpoenasUS
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LORDSTOWN, Ohio—Lordstown Motors has received a $400 million investment as the struggling electric truck maker continues to push toward production of its new pickup this fall. The Ohio company, which has been under scrutiny over the claims it has made about the number of orders it has received for its trucks, said in a filing…

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