Lordstown Motors Corp. and Lordstown EV Corporation have filed a lawsuit against Hon Hai Precision Industry Co., Ltd. (also known as Foxconn) and its affiliates for fraudulent conduct that destroyed the business of the American start-up. The lawsuit alleges that Foxconn promised to collaborate with Lordstown to jointly develop the next generation of electric vehicles. However, Foxconn instead used various assurances of support to secure ownership of Lordstown's unique and most valuable asset, its manufacturing plant, and transfer highly talented and experienced manufacturing and operational employees to the Foxconn team. Foxconn continuously misled Lordstown about its ability or willingness to support the Endurance pick-up truck and collaborate on future product development, causing Lordstown to devote substantial resources to the same cause. Foxconn also failed to honor its agreements, causing Lordstown to fail and costing Lordstown's creditors and shareholders billions. The lawsuit seeks damages for Foxconn's wrongdoing and was filed in the United States Bankruptcy Court for the District of Delaware as part of the Debtors' chapter 11 bankruptcy case. The case involves a dispute between Lordstown and its joint venture partner, Foxconn, over the alleged destruction of Lordstown's business and assets. Lordstown entered into a direct investment agreement with a different Foxconn entity, FVP, which committed to purchasing $70 million of Lordstown's common stock and up to $100 million in preferred stock for the development of new vehicle programs. However, Foxconn allegedly tried to avoid fulfilling FVP's promise to purchase Lordstown's stock and directed Lordstown to resume work on a previous internal program. FVP also allegedly breached its covenant to use reasonable best efforts to obtain CFIUS clearance and prevent impediments to the consummation of the transactions. Lordstown completed the first phase of the new vehicle development work but was in need of critical funding due to FVP's breach. The lawsuit seeks damages for breach of contract, breach of fiduciary duty, and tortious interference with contractual relations.