is close to a deal to sell its production plant to Taiwanese electronics manufacturer , according to multiple reports.
If it goes through, the deal would provide a much needed financial boost for the electric carmaker.
If you don鈥檛 know Foxconn by name, you likely know the company鈥檚 work as an assembler of Apple鈥檚 iPhone.
鈥淵ou know they are a very big company. They have a proven track record, and they do have the wherewithal to make this project succeed,鈥� Lordstown Mayor Arno Hill said.
The deal would keep Lordstown Motors production in the building and give the company a much needed financial infusion.
Hill said the deal is what the area鈥檚 fledgling tech hub has been waiting for.
鈥淏ecause everybody says, 鈥楬ey, do they have enough funding to pull this off? Do they have enough funding to get us through the end of the month, through the end of the year?鈥� This takes probably the biggest concern off the checklist,鈥� Hill said.
Lordstown Motors only uses part of the plant鈥檚 6 million square feet to make the Endurance electric pickup.
That leaves much of the space open for potential Foxconn assembly lines.
Foxconn is looking into producing its own electric vehicle platform.
