In the News
Business Growth - Foxconn invest in electric truck manufacturer
8th November 2022
iPhone maker Foxconn is investing in loss-making electric truck manufacturer Lordstown Motors, buying an 18% stake in the company for $170m.
I'm not sure why it is doing this - perhaps it thinks that the market for iPhones is relatively mature and that a bet on faster growth elsewhere in a newer market might pay dividends.
That said, it is already involved in maunfacturing electric vehicles in Saudi Arabia, under the brand name Ceer, so perhaps it's hoping that there are spillover effects from this investment too.
iPhone maker bets on electric truck firm Lordstown Motors https://t.co/OEMZkn8fxU
— BBC News (World) (@BBCWorld) November 8, 2022
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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