NU Ride Inc (NRDE)

[Saving Grace]

Now known as Nu Ride Inc., the reconstituted version of Lordstown Motors will also pursue “potential business combinations,” though it did not say what kinds of mergers it is seeking.

Lordstown Motors has emerged from bankruptcy with a new name and a nearly singular focus: continuing its lawsuit against iPhone-maker Foxconn for allegedly “destroying the business of an American startup.”

With the restructuring plan in effect, Nu Ride is now being led by an entirely new board of directors and slate of executives.

Foxconn’s effort to become a contract manufacturer for American EVs has mostly failed to date. Fisker (which is reportedly weighing its own bankruptcy filing) has recently distanced itself from the conglomerate, Foxconn saying it would rather partner with an established automaker

"The PAIN that's coming for Foxconn and affiliated short sellers and market manipulators will be enormous."