EV firm Lordstown plans to sue Foxconn over funding dispute

EV firm Lordstown plans to sue Foxconn over funding dispute

FILE PHOTO: The logo of Foxconn is seen outside a building in Taipei, Taiwan November 10, 2022. REUTERS/Ann Wang//File Photo

Lordstown Motors said on Friday it plans to take legal action against investor Foxconn to ensure that the Taiwanese contract manufacturer completes a planned purchase of nearly 10% of the electric vehicle startup’s shares.