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In March, when Lordstown’s inventory fell below the $1 minimal required for any Nasdaq listing, Foxconn informed the corporate that it had been backing outside of designs to speculate in it more.

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Lordstown was burning via money and bought its manufacturing facility to Foxconn, which can be best noted for assembling Apple’s iPhones at factories in China. In exchange for the plant, Foxconn invested tens of millions into Lordstown and was purported to manufacture the Endurance pickup.

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