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Foxconn — whose formal name is Hon Hai Technological know-how Team — claimed in an announcement that it had hoped to barter a solution to Lordstown’s financial difficulties but which the two sides had didn't arrive at an arrangement.
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In March, when Lordstown’s stock fell below the $1 minimum amount essential for a Nasdaq listing, Foxconn educated the corporation that it had been backing outside of strategies to invest in it further more.