Lordstown Motors officially filed for bankruptcy early Tuesday morning after a tumultuous few months in the stock market as their deal with Foxconn falls apart.
In the world of all things wonderful and green, the biggest push has been to hasten the demise of the internal combustion engine and the chirpiest assessments have been how EVs will save the planet..
Lordstown Motors (LMC), an original equipment manufacturer of electric vehicles focused on the commercial fleet market, and Foxconn Ventures Pte. Ltd., an affiliate of global technology company Hon Hai Technology Group (Foxconn) reached an agreement pursuant to which Foxconn agreed to make additional equity investments in LMC of a combined.