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Mergers & Acquisitions

Taiwan's Hon Hai to acquire Lordstown electric pickup/light truck plant in USA

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By Will Pulson - 1st December 2021

Taiwan / USA – Taiwan’s Hon Hai Technology Group announced in November it has signed a final agreement to acquire the bulk of the assets of US electric vehicle (EV) company Lordstown Motors Corporation (LMC).

Hon Hai confirmed it had entered into a definitive Asset Purchase Agreement regarding LMC’s vehicle production facility in Lordstown, Ohio, excluding certain assets such as the hub motor assembly line and battery pack and module lines, for USD230m.

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