Foxconn buys Lordstown Motors’ Ohio factory for $230M, plans to help produce Endurance electric pickup

URLhttps://techcrunch.com/2021/11/10/foxconn-buys-lor
SourceTech Crunch
Date Published11/10/2021
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Foxconn
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
Year reshoring announced:2021
Domestically, the work will be done:In-house
Capital investment ($):230
Country(ies) from which reshored:Taiwan, Province of China
City reshored to:Lordstown
State(s) reshored to:OH
If relevant, work nearshored to:-
Industry(ies):Transportation Equipment
Product(s) reshoredEndurance pickup truck
What domestic positive factors made reshoring more attractive?Under-utilized capacity
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