Foxconn

Taiwan-based electronics maker investing $500M in Mexico

Foxconn, the world’s largest contract electronics maker, said Tuesday that it’s partnering with the Chihuahua state government in Mexico to advance nearshoring, workforce training and energy solutions.

The $500 million investment is aimed at expanding the company’s manufacturing capabilities in Mexico, Foxconn officials said.

“This partnership reflects a shared vision between Foxconn and Chihuahua to elevate the [state’s] industrial capabilities, empower its workforce and contribute to...

https://www.freightwaves.com/news/taiwan-based-electronics-maker-investing-500m-in-mexico

Carnage grows among transportation startups

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In the world of electric vehicle and autonomous trucking startups, the picture of winners and losers...

https://www.freightwaves.com/news/carnage-grows-among-transportation-startups

Is Lordstown Motors giving up on Endurance electric pickup?

Lordstown Motors (LMC) issued its first recall, covering 19 Endurance commercial electric pickup trucks because they can stop running without warning. It plans a second recall to address issues resulting from its brake part supplier failing to source components to specifications.

“Our team has also worked closely with our supplier network to root-cause the other post-launch quality issues and develop and implement corrective actions, which have included part quality corrections, part design...

https://www.freightwaves.com/news/is-lordstown-motors-giving-up-on-endurance-commercial-electric-pickup

Lordstown Motors gets OK to ship electric commercial pickup trucks

The Lordstown Motors Endurance has begun regular production.

Lordstown Motors Corp. is beginning to ship battery-powered electric pickup trucks to customers, an accomplishment that quiets doubters about the SPAC-backed startup’s viability even as it sells the trucks for less than they cost to build.

The company said Tuesday it received the final approvals from the U.S. Environmental Protection Agency and the California Air Resources Board, allowing it to sell the trucks in all 50 states. With safety approvals already in hand, assembly of the trucks by...

https://www.freightwaves.com/news/lordstown-motors-gets-ok-to-ship-electric-commercial-pickup-trucks

Apple Faces Major Tiff With Chinese iPhone Factory

Source: EyePress News/Reuters

A violent workers’ revolt at the world’s largest iPhone factory this week in central China is further scrambling Apple’s strained supply and highlighting how the country’s stringent zero-Covid policy is hurting global technology firms, reports CNN.

The troubles started last month when workers left the factory campus in Zhengzhou, the capital of the central province of Henan, due to Covid fears. Short on staff, bonuses were offered to workers to return.

But protests...

https://mfame.guru/apple-faces-major-tiff-with-chinese-iphone-factory/

Apple Faces Major Tiff With Chinese iPhone Factory

Source: EyePress News/Reuters

A violent workers’ revolt at the world’s largest iPhone factory this week in central China is further scrambling Apple’s strained supply and highlighting how the country’s stringent zero-Covid policy is hurting global technology firms, reports CNN.

The troubles started last month when workers left the factory campus in Zhengzhou, the capital of the central province of Henan, due to Covid fears. Short on staff, bonuses were offered to workers to return.

But protests...

https://mfame.guru/apple-faces-major-tiff-with-chinese-iphone-factory/

Lordstown Motors closes plant sale to Taiwan’s Foxconn

Front 3/4 view of silver Lordstown Endurance electric pickup truck on display at the Advanced Clean Technology Expo in Long Beach, California.

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

Time running out for Lordstown Motors to complete Foxconn deal

Lordstown Motors President Ed Hightower with the Endurance pickup truck

Cash-starved Lordstown Motors missed its deadline for closing the sale of its plant to Taiwan’s Foxconn EV Technology Inc., a deal critical to the startup’s execution of electric light-duty trucks focused on commercial fleets. 

The two agreed to an asset purchase agreement (APA) in November 2021. Under the deal, Foxconn would purchase the 6.2 million-square-foot Lordstown complex from LMC for $230 million.

The deal was supposed to close Friday. But is being held up by details of a contract...

https://www.freightwaves.com/news/time-running-out-for-lordstown-motors-to-complete-foxconn-deal

Fresh start or folly? Lordstown Motors tries to thread electric pickup needle

Beleaguered startup Lordstown Motors Corp., facing federal investigations and  production costs for a commercial electric pickup truck that exceed the price it can get for the vehicle, is gamely showing up at industry events focused on the future rather than its ignominious past.

Despite more setbacks than successes, including an ousted founder in the crosshairs of Securities and Exchange Commission and Justice Department probes and financial challenges that led the company to officially...

https://www.freightwaves.com/news/fresh-start-or-folly-lordstown-motors-tries-to-thread-electric-pickup-needle

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