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It said the company was suspending negotiations with Lordstown and reserved the proper to pursue legal motion.
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four% stake from the EV maker. Lordstown contends Foxconn is balking at buying supplemental shares of its inventory as promised and misled the EV maker about collaborating on car growth programs.
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Lordstown paused manufacture of the Endurance before this 12 months and since April has resumed setting up the vehicles at a small charge after resolving good quality problems with suppliers.
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Lordstown accused Foxconn in that regulatory filing of engaging inside of a "sample of terrible religion" that caused "materials and irreparable harm" chapter 11 to the organization.