(Reuters] Lordstown Motors Corp has announced it is negotiating to sell assets to Foxconn in Taiwan, securing funds for its Endurance electric pickup trucks.

Shares of the Ohio-based firm soared by more than 14% during extended trading Wednesday.

Foxconn reached an agreement last year with the struggling EV maker to purchase its Ohio facility. The sale was for $230 Million, but did not include certain assets like the hub motor assembly or battery pack lines.

Lordstown reported Wednesday that $260million of the proceeds from the sale of Lordstown were available to the company. This includes the reimbursement of some operating and expansion expenses.

On Monday, the company stated that it required $150 million to produce its Endurance electric pickup truck.

According to the agreement, both companies will create a joint venture for future vehicle production. Foxconn would own the remaining shares while Lordstown would own 45%.