NU Ride Inc (NRDE)

[OPKOHEALTH2022]

The MIH is good for Foxconn. Lordstown Motors JV agreement has been dissolved. That is why Foxconn invested another 170 million ( not sure about this figure ) .

I copy and pasted this that I found in Stocktwits

“Adam Kroll Yes. And the joint venture, with standard obagi, is being disbanded. And we kind of think the direct investment in Lordstown is a better, simpler, easier
structure. So I think it's very Favorable. “

How is this favorable if LMC does not have access to the MIH platform?

What am I missing here ?


“Lordstown Motors will use the proceeds from the sale of the Common Stock for general corporate purposes and the proceeds from the sale of the Preferred Stock to fund development and design activities for a new electric vehicle program in collaboration with Foxconn (the “EV Program”). The $100 million direct Preferred Stock investment replaces the joint venture funding previously announced by Foxconn and LMC.”

https://investor.lordstownmotors.com/news-releases/news-release-details/lordstown-motors-and-foxconn-broaden-strategic-partnership/