Lordstown Motors gave rides in prototypes of its upcoming electric Endurance pickup truck on June 21, 2021 as part of its “Lordstown Week” event.
Michael Wayland / CNBC
The cash-strapped electric vehicle start-up will find some relief from the capital infusion, while the partnership gives Foxconn a jump start on producing fully electric trucks. Shares of Lordstown rose more than 13% after hours on the news.
According to a statement from the companies, Foxconn acquired $50 million of common stock…