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Lordstown says it plans to move forward with litigation against Foxconn
Lordstown Motors has never had a smooth road ahead of it. It has been battling money issues, production bottlenecks, and other issues until it was saved by Foxconn in 2021. However, the company is now planning to move forward with litigation against its lifeline in relation to Foxconn’s allegations of a potential breach of contract.
In May, Lordstown filed an 8-K with the SEC stating that it received a letter from Foxconn in late April, accusing the automaker of breaching its investment agreement “due to its previously disclosed receipt of a notice from the Nasdaq Stock Market LLC indicating that the Company was no longer in compliance with the $1.00 minimum bid price requirement for continued listing on The Nasdaq Global Select Market.”
Lordstown responded by stating the allegations were “without merit,” and the terms of the Investment Agreement would not permit Foxconn to terminate the agreement at the time.
The two companies were in discussions to seek a resolution, but Lordstown stated “no assurances can be given that the parties will reach a resolution of these matters.”
Lordstown shares fell over 30 percent on the news that day.
However, it appears an agreement or negotiations moving toward that have broken down, as Lordstown said in a new 8-K filed earlier this week that it “intends to enforce its rights through litigation” because Foxconn has breached the two companies’ investment agreement through “a pattern of bad faith.”
These moves have “caused material and irreparable harm” to Lordstown, the company said:
“In light of Foxconn’s conduct, the Company believes that it is unlikely that Foxconn will complete the Subsequent Common Closing. The Company believes that Foxconn’s various breaches of the Investment Agreement and pattern of bad faith have caused material and irreparable harm to the Company. Absent a prompt resolution, the Company intends to enforce its rights through litigation.”
There also appears to be a disagreement on terms of the Investment Agreement.
“On June 5, 2023, the Company received the letter attached hereto as Exhibit 99.1 in which Foxconn did not acknowledge its obligation to complete the Subsequent Common Closing and instead asserted that Foxconn’s reading of the Investment Agreement would not allow for the adjustment of the number of shares to be purchased on account of the Company’s recent reverse stock split. Foxconn’s interpretation would give Foxconn the right to purchase a windfall of over 60% of the Company’s Class A common stock for $47.3 million. The Company rejects Foxconn’s interpretation of the Investment Agreement and has so advised Foxconn in a letter dated June 7, 2023 attached hereto as Exhibit 99.2.”
Lordstown has since stated that it is seeking a financial and strategic partner for the production of the Endurance pickup. “We anticipate that production of the Endurance will cease in the near future,” it said in a 10-Q.
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U.S. AG Pam Bondi: Tesla Molotov attack suspect facing up to 20 years in prison
The U.S. Attorney General confirmed that a Tesla attacker, who threw Molotov cocktails at a store, is now facing up to 20 years in prison.
It appears that an anti-Tesla activist who is suspected of throwing Molotov cocktails at one of the electric vehicle maker’s stores is now looking at a potentially long prison sentence.
This is, at least, as per United States Attorney General Pam Bondi, who recently shared her insights in a FOX News segment.
Tesla Attacks and Trump Warning
Tesla locations and vehicles have been subjected to numerous attacks as of late, from stores being shot up to vehicles being vandalized and set on fire in suspected arson incidents. In one case, a Tesla store in Salem, Oregon, was attacked with Molotov cocktails.
President Donald Trump has issued a stern warning to people attacking Teslas, stating that he considers such actions as domestic terrorism. While addressing the issue, Trump warned that anyone caught deliberately harming Tesla will be going through “hell.”
Attorney General’s Update
During a recent FOX News segment, US Attorney General Pam Bondi reiterated that anyone targeting others over political beliefs would be caught and punished accordingly. She highlighted that investigations are underway to find out who is behind the violent actions, and she also confirmed that a Tesla attacker, who threw Molotov cocktails at a store, is now facing up to 20 years in prison.
“If you targeted someone, if you went after someone because of their political affiliation, we will be investigating you. We will be looking at you, because that’s the weaponization, and it has to stop. For instance, look what they’re continuing to do to Elon Musk. They are targeting Tesla dealerships, the stations where you charge a Tesla. They’re vandalizing cars. I have already directed an investigation be opened to see how this is being funded. Who is behind this?
“We have people we’re locking up on that. We have someone in jail right now from one of the dealerships. They threw a Molotov cocktail through a dealership. They’re looking at up to 20 years in prison. So, if you’re going to touch a Tesla, go to a dealership, or do anything, you better watch out, because we’re coming after you. And if you’re funding this, we’re coming after you. We’re going to find out who you are,” Bondi stated.
SpaceX is readying to launch the Crew-10 mission this evening, which will bring home U.S. astronauts Butch Wilmore and Suni Williams, who have been stuck on the International Space Station for nine months.
SpaceX is working alongside NASA to bring the two astronauts home, and all systems and weather conditions are looking ideal to launch the mission this evening from the Kennedy Space Center in Florida.
All systems are looking good and weather is exceptional for tonight’s Falcon 9 launch of @NASA‘s Crew-10 to the @Space_Station → https://t.co/VPdhVwQFNJ pic.twitter.com/wZ9LvZAnYn
— SpaceX (@SpaceX) March 14, 2025
Boeing was originally tasked with the rescue mission.
The company sent a Starliner aircraft to the ISS in late September in an effort to bring Williams and Wilmore home. However, malfunctioning thrusters and other issues on the Starliner aircraft prevented NASA from giving the green light to the astronauts to board and come home.
SpaceX was then tasked with bringing the two home, and it appears they will be on their way shortly.
The launch was intended to occur on Wednesday, but a last-minute problem with the rocket’s ground systems forced SpaceX and NASA to delay until at least Friday. Things are looking more ideal for a launch this evening.
The launch is targeted for 7:03 p.m. ET, but another backup opportunity is available tomorrow, March 15, at 6:41 p.m.
SpaceX writes about the Dragon spacecraft that will be used for the mission:
“The Dragon spacecraft supporting this mission previously flew NASA’s Crew-3, Crew-5, and Crew-7 missions to and from the space station. This will be the second flight for the first stage booster supporting this mission, which previously launched the SES 03b mPOWER-e mission. Following stage separation, Falcon 9’s first stage will land on Landing Zone 1 (LZ-1) at Cape Canaveral Space Force Station.”
The mission will not only aim to bring the two astronauts who have been stranded for nine months home, but it will also conduct new research to prepare for human exploration beyond low-Earth orbit.
If Crew-10 launches at the planned time this evening, it will dock to the ISS at 11:30 p.m. ET on Saturday night.
Tesla has officially wrapped up the ability to order the legacy Model Y in the United States, now only showing the new “Juniper” version and its Launch Series trim in the Online Design Studio.
Tesla launched the new Model Y in the United States in early February, and deliveries of the vehicle have officially started. While other trims of the new-look Model Y are available in other countries, Tesla has not started offering those in the United States quite yet.
However, the legacy Model Y and its several configurations are now no longer available for purchase in the U.S., at least for a custom order. Those who are looking for a deal on the best-selling car in the world for the past two years can still snag whatever is left in inventory.
🚨 BREAKING: Tesla is now only offering the new Model Y in the United States in its online configurator.
The legacy Model Y is still available through inventory, but is no longer being produced for custom orders. pic.twitter.com/4rdA7LKZl1
— TESLARATI (@Teslarati) March 14, 2025
The sunsetting of the legacy Model Y is the closing of a chapter that truly launched Tesla into the stratosphere.
Although the Model 3 found plenty of mainstream success for Tesla in its first few years, the Model Y was the vehicle that really made the company successful. It disrupted the operations of other companies, and, in conjunction with the Model Y, made OEMs take EVs seriously.
The Model Y was the best-selling vehicle in the world in 2023 and 2024. With the improvements to ride comfort, suspension, and cabin noise, along with the various changes to the exterior, Tesla has a chance to continue its run with the Model Y in 2025 — as long as it can ramp production in a timely manner and keep demand up.
The latter does not seem like it will be a huge problem as it is still a high-demand vehicle.
Tesla unveiled the Model Y on March 15, 2019, so its first design was eliminated nearly five years before its initial appearance.
U.S. AG Pam Bondi: Tesla Molotov attack suspect facing up to 20 years in prison
SpaceX readies to rescue astronauts from International Space Station
Tesla discontinues legacy Model Y in the U.S. for custom order
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