Foxconn to invest an additional $170 million in Lordstown Motors

Foxconn Technology Group, the world’s biggest contract manufacturer for electronics, is deepening its investment in Lordstown Motors Corp.,  a once-troubled EV startup that recently began building its first all-electric pickup truck at a former General Motors Co. plant in Ohio.

The two companies said Monday that Taipei-based Foxconn
2354,
+1.42%

plans to spend $170 million to buy both common stock and newly created preferred shares, providing Lordstown Motors
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with a fresh injection of capital as it works to increase production of its debut model, the Endurance.

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