LMC pickup to hit streets in ’22
Report: Foxconn chairman says production will occur in 2nd half
LORDSTOWN — Electric pickups could be shipping from Lordstown sooner rather than later, according to a statement from Foxconn Chairman Young Liu.
In an interview with Nikkei Asia, a major Japanese news outlet, Liu said Sunday: “Our self-developed electric bus will hit the road in Kaohsiung (in southern Taiwan), electric pickups made in cooperation with Lordstown will begin shipping in the second half of this year.”
Taiwanese electronics giant, well-known for making Apple’s iPhone, agreed in the fall of 2021 to purchase Lordstown Motors 6.2-million-square foot plant — the former home of the General Motors assembly plant — for $230 million.
Foxconn made a $100 million down payment and agreed to another $50 million payment on Feb. 1.
Wednesday night, after hearing about Liu’s statement, Youngstown / Warren Regional Chamber CEO Guy Coviello said: “I’m not surprised.
“We’re much more confident about this because it’s coming from Foxconn as opposed to a startup,” Coviello said.
Startup Lordstown Motors had a tumultuous 2021; the company’s founder, CEO Steve Burns, and Chief Financial Officer Julio Rodriguez abruptly departed in June, several months after a report indicating Lordstown Motors had misled investors sparked several lawsuits. Before that, the company’s flagship Endurance pickup truck burst into flames on its first-ever road test.
In August, Dan Ninivaggi was appointed as the company’s new chief executive, and by September the agreement with Foxconn was announced.
That contract also included Foxconn and Lordstown Motors agreeing to pursue a contract manufacturing agreement for the Endurance and pursuing a joint venture agreement to co-design and develop vehicle programs for the global commercial fleet market.
As of November, commercial production was expected to be delayed until the third quarter of 2022, though Liu’s recent statement suggests otherwise.
Coviello said experiences with Foxconn so far have been “very positive.”
“All indications are that they are going to be very good corporate citizens in our community,” Coviello said.