Lordstown Motors

Lordstown Motors Corp. is an automotive company, which engages in the design and manufacture of light duty electric trucks targeted for sale to fleet customers. The firm develops its flagship vehicle, the Endurance, an electric full-size pickup truck. The company was founded by Stephen S. Burns on November 13, 2018 and is headquartered in Lordstown, OH.

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Nu Ride, Inc. is an automotive company, which engages in the design and manufacture of light duty electric trucks targeted for sale to fleet customers. The firm develops its flagship vehicle, the Endurance, an electric full-size pickup truck. The company was founded on November 13, 2018 and is headquartered in New York, NY.

The struggling electric-vehicle truck maker closes a key deal.

Why Lordstown Motors Stock Jumped 58% Today

Options traders are blasting red-hot Lordstown Motors Corp (NASDAQ:RIDE) today, after news that the electric vehicle (EV) company is selling its Ohio facility to Foxconn, a Taiwan-based electronics company.

EV Stock Stays Afloat After Foxconn Deal

Rivian Automotive

Ohio-based electric vehicle maker Lordstown Motors Corp. (NASDAQ: RIDE) said late Wednesday that it had completed the $230 million sale of its Lordstown, Ohio, assembly plant to Hon Hai Precision Industry, aka Foxconn.

Did Foxconn Just Breathe Life into US EV Makers?

Lordstown Motors has closed a deal to sell its 6.2 million-square-foot Ohio factory to Foxconn for $230 million plus the reimbursement of approximately $27 million in operating and expansion costs.

Lordstown Motors finalizes factory sale to Foxconn

Fisker Inc

Fisker Inc. confirmed Thursday that Foxconn will build its second car, a compact EV, at a newly acquired plant in Lordstown, Ohio.

Fisker, Foxconn confirm build of compact EV in Lordstown plant

Beaten-up shares of several EV start-ups traded sharply higher on Thursday.

The stocks of several electric vehicle companies are surging

Lordstown Motors Corp. has sold a former General Motors plant it essentially got for free, netting about $257 million to keep its commercial electric pickup truck production on track. But the new plant owner — Taiwan electronics maker Foxconn — will build the trucks as part of the deal.

Lordstown Motors closes plant sale to Taiwan's Foxconn

Fisker and Foxconn said Thursday they will partner to build Fisker's second all-electric model, the PEAR Urban Lifestyle EV, in Ohio now that Foxconn has purchased the former Lordstown Motors plant.

Foxconn to build Fisker PEAR EV at former Lordstown Motors plant in Ohio

The electric vehicle startup's stock is surging higher on news that it has managed to secure much-needed capital. The post RIDE Stock Pops as Foxconn Acquires Lordstown Motor's Factory appeared first on InvestorPlace.

RIDE Stock Pops as Foxconn Acquires Lordstown Motor's Factory

Shares of Lordstown Motors shares surged over 23% in trading before the bell on Thursday after the electric vehicle startup said it had closed the deal to sell its Ohio facility with Taiwanese contract manufacturer Foxconn.

Lordstown Motors shares surge after it sells assets to Foxconn

Lordstown Motors Corp's (NASDAQ: RIDE) stock is trading 21.8% higher at $1.84 in the premarket session on Thursday. What Happened: The beleaguered electric vehicle startup said on Wednesday it has closed a $230 million deal to sell its Ohio factory to Taiwan's Hon Hai Technology (OTC.

Why Lordstown Motors (RIDE) Stock Is Up 22% Today

Shares of Lordstown Motors Corp. RIDE, -9.58% jumped more than 30% in the extended session Wednesday after Lordstown said the deal to sell its factory to Foxconn 2354, -0.33% went through, giving the electric-truck maker a much-needed cash infusion and the Taiwanese electronics contract maker a toehold in commercial EVs.

Lordstown stock soars more than 30% as Foxconn factory sale goes through

Lordstown Motors Corp said it has completed a deal to sell certain assets to Taiwanese contract manufacturer Foxconn, clinching funds essential for the production of its Endurance electric pickup truck.

Lordstown Motors closes deal to sell assets to Foxconn, shares surge

The sale of Lordstown's factory to Foxconn gives the struggling EV start-up a critical financial lifeline.

Lordstown Motors closes $230 million deal to sell its Ohio factory to Foxconn, injecting needed cash days before deadline

$100 million Investment in Joint Venture Asset Purchase Agreement closing results in approximately $260 million in proceeds to LMC, in addition to prior $50 million common stock purchase Contract manufacturing of the Endurance by Foxconn at Lordstown facility with no interruption in operations Creation of $100 million joint venture, MIH EV Design LLC, to develop electric vehicles for the global market Foxconn and LMC to share expertise and resources to accelerate EV adoption LORDSTOWN, Ohio , May 11, 2022 /PRNewswire/ -- Lordstown Motors Corp. (Nasdaq: RIDE), ("Lordstown Motors" or "LMC"), an original equipment manufacturer (OEM) of electric light duty trucks focused on the commercial fleet market, today announced that it has closed the sale of its Lordstown facility and signed a contract manufacturing agreement and joint venture agreement for product development with affiliates of Hon Hai Technology Group ("Foxconn") (TWSE: 2317).  As previously disclosed, on November 10, 2021, Lordstown Motors and Foxconn entered into an Asset Purchase Agreement ("APA") providing for the sale of LMC's Lordstown, Ohio vehicle assembly plant to Foxconn for $230 million plus the reimbursement of certain operating and expansion costs from September 1, 2021 to the closing date.

Lordstown Motors and Foxconn Close Asset Purchase Agreement and Enter into JV Agreement for MIH Based EV Development

Lordstown may not survive to see the end of 2022. Its finances are in tatters, and its ability to produce vehicles has been severely compromised.

Lordstown CEO Ninivaggi Made $5 Million Last Year

Lordstown Motors (NASDAQ: RIDE) has been in a protracted downtrend along with the rest of the EV market and that downtrend is not over yet. While Lordstown Motors issues a better than expected report the headlines are about all the good news there is.

The Low In Lordstown Motors May Not Be The Last

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So far, 2022 has been a tough year for the markets; with the Nasdaq falling 20% year-to-date, it has officially.

EV stocks drop 76% from their highs on average as market turns fully red

Nikola

As first-quarter reports pour in, investors are getting new details on these EV start-ups.

Why Lucid, Lordstown, and Nikola Stocks All Dropped Today

Today, investors in Lordstown Motors and RIDE stock are seeing losses of around 5% as the company reports additional capital needs. The post RIDE Stock Is Falling Because Lordstown Motors Needs More Cash appeared first on InvestorPlace.

RIDE Stock Is Falling Because Lordstown Motors Needs More Cash

Lordstown Motors Corp. (NASDAQ:RIDE ) Q1 2022 Results Conference Call May 9, 2022 8:30 AM ET Company Participants Carter Driscoll - VP Corporate Development, Capital Markets and Investor Relations Dan Ninivaggi - Chief Executive Officer Edward Hightower - President Adam Kroll - Chief Financial Officer Conference Call Participants John Murphy - Bank of America Merrill Lynch Operator Good day and welcome to the Lordstown Motors First Quarter 2022 Earnings Call. All participants will be in listen-only mode.

Lordstown Motors Corp. (RIDE) CEO Daniel Ninivaggi on Q1 2022 Results - Earnings Call Transcript

Electric vehicle startup Lordstown Motors Corp said on Monday it needed $150 million in addition to the proceeds from its sale of assets to Taiwanese contract manufacturer Foxconn to put its Endurance pickup truck into the hands of customers.

Lordstown Motors signals need for more capital to boost production, shares drop

Lordstown hopes to start production of its electric truck this fall, but even if a lifeline deal with Foxconn closes next week, it'll need more cash.

Lordstown's future is at stake as it burns through cash and faces a crucial deal deadline next week

Lordstown Motors Corp (NASDAQ: RIDE) reported a first-quarter FY22 loss per share of $(0.46), in line with the consensus of $(0.46) and against a loss of $(0.72) last year. The total operating expenses declined 17.3% Y/Y to $87.9 million.

Why Lordstown Motors Shares Are Sliding Today

Lordstown Motors said in a filing with the SEC that it has not yet closed a $230 million deal with Foxconn ahead of a May 14 deadline that would allow it to remain a going concern.

News for Lordstown Motors Stock (RIDE)