Lordstown Motors Corp. was hoping to kick off the development of a new electric vehicle through a partnership with Foxtron, a company affiliated with Foxconn Technology Group. Lordstown’s executive Ed Hightower flew to Taiwan for meetings with Foxtron’s leaders, but the CEO of Foxtron refused to meet with him and provide the necessary engineering drawings and licensing agreements. Lordstown filed for bankruptcy after struggling to build its electric trucks and failing to establish the partnership with Foxconn. Lordstown has also sued Foxconn for breach of contract and fraud. Foxconn responded by saying that Lordstown had continuously attempted to mislead the public. Lordstown’s bankruptcy highlights the challenges faced by startups in the electric vehicle industry.
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