Lordstown Motors puts itself up for sale after unresolved dispute over promised investment from Taiwan company
Lordstown Motors, the US electric truck manufacturer once lauded by former president Donald Trump as the savior of a depressed Ohio town, filed for bankruptcy protection on Tuesday.
The automaker, named after the town where it is based, filed for Chapter 11 protection in Delaware and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan’s Foxconn. It simultaneously took legal action against Foxconn.
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