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Foxconn’s Lordstown Deal Sets the Stage for Apple Car Audition

  • U.S. plant may help Foxconn become assembler of Apple vehicles
  • Shares fall as investors still see hurdles in Foxconn’s path
The Lordstown Motors Corp. headquarters in Lordstown, Ohio.

The Lordstown Motors Corp. headquarters in Lordstown, Ohio.

Photographer: Dustin Franz/Bloomberg
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Foxconn Technology Group’s planned purchase of embattled startup Lordstown Motors Corp.’s auto plant in Ohio may make it a stronger contender to assemble cars for Apple Inc., but success with the endeavor is far from guaranteed.

The Taiwanese company is the largest maker of iPhones, giving it a potential edge as Apple explores the automotive sector. Foxconn agreed to spend $280 million on the Lordstown deal, one of the top vehicle-related investments it has made over the past two years.