NU Ride Inc (NRDE)

[Saving Grace]

RESEARCH will show Lordstown 45% Foxconn 55% partnership MIH EV

Lordstown Motors is here to stay.

Foxconn is now building an Empire with a new 700mn investment in India
for an EV and phone component hub.

The investment is one of Foxconn’s biggest single outlays to date in India and underscores how China’s at risk of losing its status as the world’s largest producer of consumer electronics. Apple and other US brands are leaning on their Chinese-based suppliers to explore alternative locations such as India and Vietnam. It’s a rethink of the global supply chain that’s accelerated during the pandemic and the war in Ukraine and could reshape the way global electronics are made.

Hon Hai Chairman Young Liu, who met India’s Prime Minister Narendra Modi this week, did not comment on a possible Karnataka investment in a statement on Saturday outlining his visit.

“My trip this week supported Foxconn’s efforts to deepen partnerships, meet old friends and make new ones, and seek cooperation in new areas such as semiconductor development and electric vehicles,” Liu said. “Foxconn will continue to communicate with local governments to seek the most beneficial development opportunities for the company and all stakeholders.”

https://www.bloomberg.com/news/articles/2023-03-03/iphone-maker-plans-700-million-india-plant-in-shift-from-china