Foxconn Technology Group completed the acquisition of Ohio plant of General Motors from Lordstown Motors for $280m.

Foxconn Technology Group, a Taiwanese multinational electronics contract manufacturer, completed the acquisition of Ohio plant of General Motors from Lordstown Motors, an American producer of electric pickups, for $280m. Foxconn will invest $55m for 55% of a joint venture for product development, and will take on approximately 400 Lordstown employees.