Tech Company Receives CFIUS Clearance to Buy US EV Equipment Manufacturer

Singapore-based Foxconn Ventures, an affiliate of Taiwan-based technology firm Hon Hai Technology Group, recently received U.S. clearance to acquire American electric vehicle equipment manufacturer Lordstown Motors, Squire Patton said in a May 8 post. The parties received clearance from the Committee on Foreign Investment in the U.S. April 25, the law firm said. The purchase was valued at about $50 million.