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

Lordstown Motors continues to swirl down the toilet.  (7/10)

June

Embattled Lordstown continues to make headlines.  (6/29)

It's another Foxconn debacle as Lordstown Motors files for bankruptcy.  (6/27)

Vote of 'no confidence' from Lordstown Motors founder Steve Burns.  (6/22)

InvestsorPlace warns that Lordstown Motors RIDE will crash and burn.  (6/14)

Foxconn goes from Wisconsin bamboozle to Lordstown chicanery.  (6/13)

Lordstown/Foxconn EV debacle on verge of morphing into legal slugfest.  (6/11)

You're in for a bad RIDE with Lordstown Motors according to InvestorPlace.  (6/10)

Foxconn debacle at Lordstown is running on empty.  (6/5)

Foxconn/Lordstown Endurance partnership:  And the hits just keep on coming.  (6/3)

It's all over town, Lordstown's Endurance lacks endurance.  (6/2)

May

The slow drip of bad news out of Lordstown becomes a gusher, part 2.  (5/29)

The slow drip of bad news out of Lordstown becomes a gusher, part 1.  (5/29)

Not making good on a pledge?  It's a Foxconn speciality!  (5/28)

Foxconn/Lordstown Motors deal.  Tick.....tick.....tick..... (5/24)

January

Slow drip of bad news out of Lordstown continues for Foxconn.  (3/19)

2022

Slow drip of bad news out of Lordstown continues.  (5/22)

2021

Four years in, Foxconn still hopes to hit a bullseye.  (10/1)

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)

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