Manufacturing should start in late 2023.
This facility belonged to Lordstown, an EV truck start-up company.
Foxconn will build the Lordstown Endurance pickup as well as future Fisker vehicles.
Foxconn is the world’s largest contract electronics maker. You may have heard of one their best-known products: The Apple iPhone. Foxconn has just confirmed that they have purchased the Lordstown facility for $230 million and this is where the Endurance pickup will be assembled as well as Fisker vehicles.
This is significant news as the very troubled Lordstown Motors EV company had recently announced that they no longer had funds to actually build the vehicle. Through Foxconn, Lordstown will lease a portion of the plant and finally assemble the truck, according to Reuters.
As for Fisker, they completed a vehicle assembly deal with Foxconn back in May. Through Project Pear, Foxconn will assemble 150,000 vehicles for Fisker from 2024.
Henrik Fisker, chairman and CEO of Fisker Inc. said: “We welcome the news from Foxconn, our co-investment partner on Project PEAR, concerning their manufacturing plans for the facility in Ohio. Achieving key program objectives such as time to market, access to a well-developed supplier ecosystem and overall cost targets were all important factors in the decision to locate manufacturing in Ohio. Since signing the agreement with Foxconn earlier this year, we have been working together intensively on all aspects of Project PEAR including design, engineering, supply-chain and manufacturing. Fisker’s commitment to volume manufacturing in the United States takes another important step forward today with the signing of this agreement.”
The transaction will include a $50 million investment in the plant from Foxconn and hire current Lordstown employees.