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In the News

Business Growth - Foxconn invest in electric truck manufacturer

Geoff Riley

8th November 2022

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iPhone maker Foxconn is investing in loss-making electric truck manufacturer Lordstown Motors, buying an 18% stake in the company for $170m.

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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.

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty 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 and Revision conferences in the UK and overseas.

@tutor2uGeoff

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