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Taiwan's Foxconn has deal to buy former GM plant in Ohio

Posted at 10:04 PM, Sep 30, 2021
and last updated 2021-09-30 22:04:58-04

Foxconn Technology Group has struck a deal to buy a massive auto assembly plant in Ohio from a startup electric truck maker.

The agreement announced Thursday gives the world’s largest electronics maker an entry into the growing electric vehicle market.

Foxconn is best known for making Apple iPhones but has been exploring moves to get into electric vehicle manufacturing.

Under the nonbinding agreement with Lordstown Motors, Foxconn would take over a sprawling manufacturing plant near Youngstown that until 2019 was operated by General Motors.