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Foxconn is investing another $70 million in Ohio’s Lordstown Motors to pursue revamped ‘EV program’

Lordstown EV

Global tech company Foxconn has announced it will invest at least another $70 million and up to $170 million total in EV startup Lordstown Motors. Foxconn’s $70M investment in Common Stock shares of Lordstown will help the company with its corporate strategy, while the two parties are shifting their previously announced $100 million joint venture into a Preferred Stock investment that will fund a “new EV program” run within Lordstown Motors instead.

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Lordstown Motors kicks off Endurance electric pickup production ahead of sales in Q4

Lordstown Endurance

After a tumultuous four-year journey to this point, Lordstown Motors has announced it has finally reached that pivotal moment in any flagship EV lifecycle, the start of commercial production. The American EV automaker shared that it has already completed two production-ready Endurance pickups as part of a slow ramp up in Lordstown, Ohio toward 500 units that will begin sales next quarter.

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Lordstown Motors closes sale of plant to Foxconn for $230M in much needed cash

Lordstown-Q2-2022-earnings

Back in an unassuming corner near the exit of the ACT Expo at the Long Beach convention center sits a black Lordstown Motors Endurance pickup. As at least two ACT attendees asked questions about the prototype, its manufacturers were publicly announcing the official sale of its assembly plant. Lordstown Motors has officially closed its deal with Foxconn, who will now build the former’s Endurance pickup under a new joint venture (JV) and manufacturing contract.

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Rivian, Volvo, and 56 others urge Michigan governor to support electric trucks and buses

Rivian Michigan

The Electrification Coalition delivered a letter to Michigan Governor Gretchen Whitmer Wednesday, backed by 58 businesses, including Rivian, Volvo, EVgo, and Arrival, to name a few. The letter urges the governor to join the Multi-State Medium- and Heavy-Duty Zero Emission Vehicle Memorandum of Understanding, which would expedite the electrification of trucks and buses throughout the state.

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Lordstown Motors exits San Felipe 250 early, underestimates energy usage

Lordstown Motors San Felipe

Lordstown Motors recently entered its electric Endurance pickup truck in the SCORE San Felipe 250 race, only to have to drop out after stage one. Although the Endurance truck and its components withstood the elements, the Lordstown team admitted its pre-race estimates for energy consumption were wrong, and the EV prototype would likely not make it through stage two.

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4 electric car brand alternatives that aren’t Tesla

Rivian Lucid Lordstown NIO

If you’re reading this article, you know Tesla. You may even be reading this from inside your Model 3 as it’s docked at a Supercharger. As we desperately scramble away from the ceaseless test of will that was 2020, we look toward to the new year with newfound hope and optimism. 2021 is a big year for everyone and everything, including electric vehicles. To help keep you in the know for the future, here are several of the best Tesla alternatives and where they currently lie on their journey up the EV ladder.

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Lordstown will partner with Camping World for an electric RV, service locations

Lordstown Motors and Camping World will work together to build an electric motorhome, announced in an event at Lordstown’s Ohio plant with Lordstown CEO Steve Burns and Camping World CEO Marcus Lemonis.

Lordstown also plans to use Camping World for nationwide service locations for the Endurance electric pickup truck.

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