The troubled electric vehicle maker Lordstown Motors has followed through with its promise to sue Foxconn over a promised investment and filed for bankruptcy.
On June 27, the EV maker filed a legal action against Foxconn, the Taiwanese manufacturer of Apple’s iPhones, while simultaneously filing for Chapter 11 protection in Delaware and put itself up for sale.
The Ohio-based manufacturer of the Endurance all-electric pickup truck is looking for a new owner, said the company, after also losing General Motors as an investor in March.
The American EV startup sued Foxconn, also known as Hon Hai Technology Group, for fraud and consistently failing to live up to its commercial and financial commitments….