Lordstown Motors files for Chapter 11 bankruptcy, sues Foxconn

Electric truck maker Lordstown Motors filed for Chapter 11 bankruptcy protection Tuesday and put its assets up for sale. It also sued Foxconn, accusing the Taiwanese manufacturer of not holding up its end of a development agreement.

The two companies had entered into a strategic partnership in which Lordstown had agreed to sell the production facility in Ohio. For its part, Foxconn would facilitate a vehicle development program based on its vast global supply chain network.

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