Tuesday, July 11, 2023

Lordstown Motors debacle: Sounds like Foxconn has more mischief up its sleeve

 
Headline:  Drive, 7/11/2023
If Foxconn's position is true – and the contract didn't specify adjustments in the event of a reverse stock split – then it appears it may have been a major misstep by the young company, with Foxconn's shrewd lawyers taking advantage of the contractual loophole. 
The loophole could result in Foxconn buying the start-up electric-vehicle manufacturer at a heavily discounted rate. 
Foxconn already has one electric SUV in production in Taiwan under the Foxtron brand, and the CEO has hopes to build 5 per cent of the world's electric cars by 2025 – manufacturing vehicles for other brands, in the same way it assembles the iPhone for Apple.

Other Foxconn and Foxconn/Lordstown posts:
2023
July

June

May

January

2022

2021
GET ME REWRITE: Yes, Foxconn's $100 milion pledge to UW-Madison was nothing more than a cynical election ploy by Scott Walker.  (8/11)
The mysteries of Foxconn (season 2).  (5/12)
The collapse of Donald Trump's '8th Wonder of the World'.  (4/20)

2020
Apparently, that's not what Scott Walker heard.  (12/19)
Just wondering what else in this Foxconn op-ed is off the mark.  (11/17)
GET ME REWRITE: Two gullible guys from Racine County still believe anything Foxconn tells them.  (10/23)

Keeping tabs on Foxconn Place in
Eau Claire
Green Bay
Madison
Milwau

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