Lordstown Motors has filed for bankruptcy protection, marking the end of the road for a troubled electric truck manufacturer that promised a corner of the US Rust Belt hundreds of jobs tied to the auto industry’s green transition.
The company said the move followed the unravelling of a deal with Taiwan’s Foxconn, which in 2021 agreed to partner with Lordstown and help produce its flagship pick-up truck, the Endurance, and last year purchased its plant.
In a statement on Tuesday, Lordstown accused Foxconn of failing to “execute on the agreed-upon strategy, leaving us with Chapter 11 as the only viable option to maximise the value of Lordstown’s assets for the benefit of our stakeholders”.
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