Lordstown Motors Set to Sell Ohio Plant to Taiwan-Based Foxconn

Lordstown Motors, the electric vehicle start-up company that promised hundreds of jobs this year, is set to sell the Lordstown, Ohio manufacturing plant that General Motors (GM) idled in 2019 to the Tawain-based multinational corporation Foxconn. Reports on Thursday revealed that Lordstown Motors and Foxconn are in talks about the buying of the plant. In 2019, after GM laid off about 4,500 American workers in Ohio in three years and left 400 others unemployed in supporting industries in the region, Lordstown Motors bought the plant. In May 2020, Lordstown Motors executives said they would bring 600 jobs to the plant with expectations that thousands of more jobs would be added in the future. Since then, though, Lordstown Motors has struggled to match its words with production. In June, executives claimed that they had enough orders for the company’s electric vehicle pick-up trucks but then later backtracked, stating that they did not have any firm orders for their trucks. Foxconn’s purchasing of Lordstown Motors would come after the corporation flopped on its commitment to invest $10 billion into a Wisconsin manufacturing plant. In April, Foxconn executives said their initial billion-dollar investment for the plant would be cut down to $672 million. In addition, the number of jobs the corporation initially claimed to be bringing to the region, 13,000, has been reduced to less than 1,500. Foxconn is likely to get $80 million in tax credits over six years from Wisconsin taxpayers as part of the deal. John Binder is a reporter for Breitbart News. Email him at jbinder@breitbart.com. Follow him on Twitter here..

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References:

• https://archive.is/ypiK0
• https://www.breitbart.com/politics/2019/03/08/displaced-america-gm-ohio-plant-idles-4-5k-u-s-workers-laid-off-since-2017/
• https://www.breitbart.com/politics/2019/02/22/gm-ohio-plant-closure-results-in-400-layoffs-of-americans-in-other-industries/
• https://www.breitbart.com/politics/2020/05/22/shuttered-lordstown-plant-to-reopen-with-600-u-s-jobs-making-electric-trucks/
• https://www.breitbart.com/news/lordstown-motors-reverses-says-it-has-no-firm-truck-orders/
• https://archive.is/lr9kV#selection-411.0-430.0