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By Michelle Toh, CNN
Updated 8:01 AM EDT, Tue June 27, 2023


Lordstown Motors filed for bankruptcy protection Tuesday, put itself up for sale, and announced a lawsuit against Foxconn, accusing its biggest shareholder and former partner of setting out to “destroy” its business.

The electric vehicle maker, which specializes in pick-up trucks, made a Chapter 11 filing in a Delaware court while simultaneously starting legal action against Foxconn.

In a statement, the company said it was left with no choice after a high-profile tie-up with Foxconn, one of the world’s biggest electronics manufacturers, fell apart. It accused the Taiwanese tech firm of fraud and failing to follow through on promises to invest in the company.


https://edition.cnn.com/2023/06/27/busin...index.html

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