Foxconn to invest up to $170m for 18% stake in American EV maker

Foxconn to invest up to $170m for 18% stake in American EV maker

FILE PHOTO: A woman carrying an umbrella walks past the logo of Foxconn outside a company's building in Taipei, Taiwan October 31, 2022. REUTERS/Carlos Garcia Rawlins/File Photo

Lordstown Motors Corp has agreed a deal under which a Foxconn affiliate will invest up to $170 million in the electric vehicle (EV) maker, making the Taiwanese contract manufacturer its biggest shareholder with a near 20% stake.

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