Lordstown Motors Corp. stock tanked over 30% Monday after the EV maker said in a filing that Taiwanese electronics contract maker Foxconn wants to put the brakes on their deal, and warned that without the agreement it will be “deprived of critical funding necessary for its operations.”
Lordstown RIDE and Foxconn, also known as Hon Hai Technology Group, announced the first of several deals with the auto maker in late 2021 and in May 2022 Foxconn bought Lordstown’s factory as part of its investment in the Ohio-based company….
