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WASHINGTON (Reuters) – World expertise agency Foxconn and startup Lordstown Motors Corp mentioned Friday they plan to pursue a U.S. Vitality Division mortgage from a program to assist pay for the prices of retooling a manufacturing facility to construct electrical vehicles.
Foxconn agreed in precept to purchase a Lordstown Motors Corp meeting plant for $230 million and take over manufacturing of a brand new pickup truck, the businesses mentioned on Thursday. In January, Lordstown mentioned it was in superior talks with the division for a retooling mortgage.
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