Lordstown Motors files for bankruptcy, sues Foxconn
Vložit
- čas přidán 6. 09. 2024
- Lordstown Motors - the company that moved into the shuttered GM plant in Trumbull County to create its electric Endurance vehicle - announced it has filed for Chapter 11 bankruptcy along with litigation against Foxconn, citing “fraud and willful and consistent failure to live up to its commercial and financial commitments to the company.”
The company also announced "a comprehensive marketing and sale process for the Endurance vehicle and related assets,” adding the company “is confident that a buyer could utilize the Endurance platform to create multiple EV variants and take the product to the next level.”
"Despite our best efforts and earnest commitment to the partnership, Foxconn willfully and repeatedly failed to execute on the agreed-upon strategy, leaving us with Chapter 11 as the only viable option to maximize the value of Lordstown's assets for the benefit of our stakeholders," according to a statement from Edward Hightower, the CEO and President of Lordstown Motors. "We will vigorously pursue our litigation claims against Foxconn accordingly."
Full details: www.wkyc.com/a... --
At 3News, we’re not here to tell you the news, we’re here to share the stories that you say matter most to you. Share your ideas, thoughts, concerns and engage in conversations about the communities in which we all call home.
Follow 3News on Social:
Facebook: / wkyc.channel3
Twitter: / wkyc
Instagram: / wkyc3
Visit our site: www.wkyc.com/
And be sure to download our app here: wkyc.com/app
Min 00:15 " FoxConn (Ohio) accused of fraudulent conduct..."
•• just as in Wisconsin's case.
•• another DT "Success", just as the Carrier loss of jobs in Indiana was exposed to be, in 2017.
Old quote:
" Pepperidge Farm remembers.... "
"The biggest success, the most they ever seen, I'm a friggin HERO" ronaldmcdonald trump
@@jessewoody5772 In the last 2 years, JB has done the Chips and Science Act that triggered 9 large corporations to announce expansions and plant beginnings in many states.
He did the Infrastructure Law that is the largest rebuilding of America in history, plus the Inflation Reduction Act that's subsidizing solar panel and heat pump installation, electric car sales, and efficient appliance purchases, and addresses climate change and lowers prescription drug costs, insulin costs and ACA insurance premiums, and increased Medicare benefits including dental and non prescription hearing aids.
Other readers here will search:
" What is in the Infrastructure Law, and how is it totally paid for ? "
The uninsured rate is now the lowest in American history, at 8%
•• after the Dem Governor Roy Cooper of N Carolina recently expanding Obamacare, this will decline to 7%
I’m old enough to remember when Donald Trump just turned his back on 15000 American auto workers as Mary Barra ILLEGALLY BROKE VALID LABOR CONTRACTS and closed 5 small car plants in response to his rollback of CAFE regulations
Keeping REPUBLICANS grubby hands off the Labor Department is paramount
We had a great small car plant at lordstown and look at it now … it’s owned by fugging foreigners who are shady actors and is a complete failure and a joke
Lordstown says FoxConn misled them. Lordstown complaining about others misleading would be on par with John Mcenroe saying that certain tennis players complain too much!
LM stock has been under $1 for more than 3 1/2 months now! 😉
How much money did the employees invest in RIDE stock?
We’re they coerced into buying it during the cozy lunches with the CEO ?
Aww so sad
LM Mismanagement...
I knew the company would not pan out from the very beginning. Nothin but a get rich quick scam. Todays business model is based off the In Living Color skit "How to make mo money without using yo money" But its no joke.....
What about the investors...
(beside going to 0000)
FoxConn wasn't the problem, it was the curse of Trump.