Foxconn invests another $170M into EV SPAC Lordstown Motors • ZebethMedia

Taiwanese manufacturer Foxconn is increasing its investment in EV startup Lordstown Motors by buying $170 million in common stock and newly created preferred shares. Once the deal is complete, Foxconn will hold all of Lordstown’s outstanding preferred stock and 18.3% of its common stock on a pro forma basis. Foxconn will also have the right […]

iPhone maker Foxconn and Saudi Arabia are going into the EV business • ZebethMedia

Saudi Arabia’s sovereign wealth fund has formed a joint venture with Foxconn to build and sell EVs, the latest move by the nation to meet its Vision 2030 goal of reducing its dependence on oil and diversifying its economy. The new company, called Ceer, will design, manufacture and sell a portfolio of EVs using BMW’s […]

Fisker bumps up production for all-electric Ocean SUV • ZebethMedia

Fisker is raising its manufacturing forecast two weeks before its first electric vehicle, the Ocean SUV, enters production. The automaker plans to produce 42,400 Ocean SUVs by the end of 2023, up from an initial forecast of 40,000, due to strong demand in the U.S. and Europe. The company said it has received 62,000 reservations […]

Foxconn pushes deeper into automotive with an electric pickup and crossover • ZebethMedia

Foxconn, the Taiwanese manufacturing giant that makes Apple’s iPhones, unveiled Tuesday two electric vehicle concepts at its third annual Hon Hai Tech Day as the company tries to diversify its business and take on the automotive market. The two vehicles, a Model V electric pickup truck and Model B electric crossover hatchback, is a message […]

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