Lordstown Motors Corp. has sold a former General Motors plant it essentially got for free, netting about $257 million to keep its commercial electric pickup truck production on track. But the new plant owner — Taiwan electronics maker Foxconn — will build the trucks as part of the deal.
The clock was ticking against a Saturday deadline that would have forced LMC to forfeit most of its assets to repay $200 million Foxconn advanced on the plant purchase.
The cash infusion clears some of the rocks...
https://www.freightwaves.com/news/lordstown-motors-closes-plant-sale-to-taiwans-foxconn