US light utility EV maker Indigo Technologies has secured an investment from Taiwanese multinational electronics manufacturer Hon Hai Technology Group, also known as Foxconn. The investment will help the company to accelerate the development of its smart EV technologies for light utility EVs, which are designed for ride hailing, delivery and autonomous transportation applications. Building… Read more »
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Lordstown Motors files for bankruptcy, sues partner Foxconn
Sadly, electric truck maker Lordstown Motors’ bumpy and colorful ride appears to have come to an end. The company has filed for Chapter 11 bankruptcy protection, and is suing business partner Foxconn for allegedly reneging on an investment deal. Lordstown said it will try to sell its assets, and reduce its 243-person staff to a… Read more »
Monarch electric tractors roll off Foxconn assembly lines in Lordstown
The humble Ohio community of Lordstown has played a dynamic role in EV history. The first act of the drama was a typical Rust Belt tragedy—shuttered auto plant, lost jobs. The second was a heart-warming resurrection story—plucky startup builds innovative electric pickup. Next came a tawdry tale of a missed opportunity to electrify postal delivery… Read more »
Foxconn to invest up to $170 million in Lordstown Motors to develop a new EV
Foxconn Ventures has agreed to invest up to $170 million in Lordstown Motors in exchange for all of Lordstown’s outstanding preferred stock and 18.3% of its common stock. Lordstown will use the proceeds to fund the development of a new EV program in collaboration with Foxconn, dubbed the “EV Program.” (Let’s hope they come up… Read more »
Foxconn launches two new EVs, targets contract manufacturing market
Everybody seems to be getting into the EV game these days, but Foxconn, which is famous as a contract manufacturer for Apple, is no newcomer to the field—it has been working to produce an EV since 2014. In 2021, Foxconn made a deal with Lordstown Motors, under which it bought a chunk of the latter’s… Read more »
Stellantis and Foxconn to design and build chips for new STLA Brain product line
Automaker Stellantis and electronics manufacturer Foxconn are teaming up to design and produce purpose-built semiconductors for the automotive industry. “With Foxconn, we aim to create four new families of chips that will cover over 80% of our semiconductor needs, helping to significantly modernize our components, reduce complexity, and simplify the supply chain,” said Stellantis CEO… Read more »
What’s going on with Lordstown, Fisker and Foxconn?
Lordstown Motors already has a colorful history, beginning with a heartwarming tale of a shuttered factory retooled to build electric trucks. Sister company Workhorse was at the center of a tragedy in which a plan for the US Postal Service to electrify its ancient fleet of delivery vehicles fell apart. Last October, the company rode… Read more »
iPhone contract manufacturer Foxconn invests $811 million in EV factory
The rumors have been flying since the Foxconn Technology Group’s June announcement that it plans to build an EV with a price tag of less than $15,000. The Taiwanese company builds iPhones for Apple and the touchscreen for the Tesla Model S. [Correction 1:00pm EDT 9/26/14: Despite widespread internet reports that Foxconn produces the Model… Read more »
Video: Caterpillar goes all in on EVs at CES
Off-road vehicles may turn out to be one of 2024’s top EV stories. The intrinsic advantages of EVs—silence, lack of local emissions, high torque—make them great choices for applications from construction to agriculture to mining. One off-road OEM exhibiting EVs at this year’s Consumer Electronics Show is Caterpillar. The iconic yellow-machine maker’s entire booth at… Read more »
Video: Bobcat introduces new electric skid steer loader
From job sites to farms to mines, off-road vehicles are steadily electrifying. Bobcat, an American manufacturer of compact farm and construction equipment, has introduced what it calls the world’s first all-electric skid steer loader, a follow-up to the electric track loader Bobcat introduced two years ago (a skid steer uses differential steering—its wheels or tracks… Read more »