Foxconn Indi One

Foxconn Signs MOU to Build New EV Prototype at Lordstown

LORDSTOWN, Ohio — Hon Hai Technology Group, better known as Foxconn, announced this morning that it’s signed a memorandum of understanding with Indiev Inc. to manufacture its first Indi One prototype vehicles at the Lordstown plant.

“The Indi One is a unique vehicle in that it demands the highest quality of automotive craftsmanship as well as consumer electronics manufacturing and engineering,” Indiev founder and CEO Shi Hai said. “Partnering with Foxconn, the world’s leader in consumer electronics, during this exciting time in their entry into electric vehicles means that Indi One drivers will lead the way into the future of personal transit.”

Details of the potential collaboration, beyond the prototype build, will be disclosed at a later date as both sides remain in negotiation, the companies said in a joint statement today.

“Our MOU with Indiev marks the beginning of many more discussions to come regarding the future of EV manufacturing in Ohio,” said Foxconn Chief Product Officer Jerry Hsiao. “Throughout this process, Foxconn is confident in its Ohio workforce to manufacture quality prototypes that will help Indiev achieve future success.”

Foxconn assumed manufacturing operations at its Ohio facility after purchasing Lordstown Motors Corp.’s Lordstown plant in May 2022.

Indiev was founded in Los Angeles in 2017 and revealed Indi One publicly in 2021. The EV is expected to have an entry-level price of $45,000 and $69,000 for the premium unit.

Foxconn has started commercial production of Lordstown Motors’ all-electric Endurance pickup and is expected to begin production of the electric-powered Monarch Tractor during the first quarter of 2023.

The Taiwanese tech company has also signed a contract manufacturing agreement with Fisker Inc., which expects to manufacture the high-volume Fisker Pear EV sometime in 2024.

This MOU also serves as first steps towards delivering vehicles to customers for Indiev, who began development of the Indi One in 2017, and revealed the vehicle publicly in October of 2021. The memorandum includes a binding provision to build the Indi One prototype vehicles at Foxconn Ohio.

Copyright 2024 The Business Journal, Youngstown, Ohio.