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Foxconn, Lordstown Motors to pursue U.S. loan for EV factory By Reuters

by Mike Robinson

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© Reuters.

WASHINGTON, (Reuters) – Foxconn Global Technology and Lordstown Motors Corp announced Friday that they will seek a U.S. Energy Department loan to pay the cost of retooling a plant to make electric trucks.

Foxconn has agreed to purchase a Lordstown Motors Corp plant and will take control of production of a pickup truck. The companies announced this on Thursday. Lordstown stated in January that it had been in advance talks with the Department for a loan to retool.

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