While Foxconn is currently locked in a dispute with Lordstown Motors, the technology giant says it will still be able to use the $250 million factory in Ohio that it purchased from the electric startup.
Last year, Foxconn said it would invest as much as $170 million in Lordstown Motors and lead production of the electric Endurance pickup truck. However, Lordstown recently revealed that Foxconn has threatened to withhold funding, noting that it may be forced to cease operations if this occurs.
Foxconn ultimately believes it can establish itself as a key player in the EV space by helping car manufacturers assemble their vehicles, much like it does with the iPhone for Apple.
“We are taking a multi-customer approach to optimize and allocate this capacity we have in Ohio,” Foxconn Technology Group chairman Young Liu said. “In the past couple of years, Foxconn has been proactively seeking customers. Now, the interest is two-way; we are also being approached by potential customers as well — I’m talking about traditional auto OEMs.”
Liu told Bloomberg that the Taiwanese company remains open “to continued dialogue” with Lordstown Motors to find the “best solution for each other.”
Read: Lordstown Expects To End Endurance Production As It Fights Foxconn
“We have seen in the past month how tough disruption is for the EV industry,” he noted. “I would prefer to talk less in public and instead do more to come up with solutions for our stakeholders. The next two years are a period of active courtship of new customers.”
Lordstown noted in a recent filing to the U.S. Securities and Exchange Commission that it has “substantial doubt” over its ability to continue operating. The company added that it needs “significant additional funding” if it is to keep producing the Endurance but noted that it has yet to find a suitable strategic partner.
