Lordstown Motors Stops EV Production Due to Quality Issues

Lordstown Motors faces additional challenges as well. In late 2021, GM sold its stake in the company, leaving Lordstown with limited funding. The startup then sold its plant to manufacturing heavyweight Foxconn to raise funds, which deepened their relationship and resulted in two Foxconn-chosen seats on Lordstown’s board of directors. With pressure to turn things around, setbacks like this recall only add to the company’s struggles.