World News

22057 readers

38 users here now

Breaking news from around the world.

News that is American but has an international facet may also be posted here.

Guidelines for submissions:

Where possible, post the original source of information.
- If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.

These guidelines will be enforced on a know-it-when-I-see-it basis.

For US News, see the US News community.

This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.

founded 2 years ago

MODERATORS

Lordstown Motors files for bankruptcy, sues Foxconn (www.reuters.com)

submitted 1 year ago by wrath0110@midwest.social to c/news@beehaw.org

3 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] variaatio@sopuli.xyz 1 points 1 year ago

Well lordstown was always a niche player. Plus the production capacity is going nowhere, since it is now owned and operated by Foxconn.

Lordstown was always going out of business. They merely bought couple extra years by selling the factory to Foxconn. Foxconn got it at a steal, since Lordstown was indesperate need of money.

Foxconn has no intention to make success out of Lordstown and endurance. They are aiming to be contract maker for hire like MagnaSteyr, Valletta Automotive or VDL. They aim for big secure contracts with the main brands.