– Lordstown Motors Files For Bankruptcy, Shares Crash:
After filing for bankruptcy protection, electric truck startup Lordstown Motors Corp. shares crashed Tuesday morning in premarket trading in New York. At the same time, Lordstown sued iPhone maker Foxconn Technology Group for fraud and breach of contract.
Lordstown’s move to seek Chapter 11 protection from creditors comes after a dispute with Foxconn over a deal to produce trucks at an assembly plant in Ohio. Lordstown sold its Ohio factory, a former GM plant, to Foxconn in November 2021.
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