Electric vehicle start-up Lordstown Motors has a new Chief Executive Officer. Former President Edward Hightower is taking over as CEO, while outgoing CEO Daniel Ninivaggi transitions into the role of Executive Chairman. These changes are right on time for the joint venture with Taiwanese electric vehicle manufacturer Foxconn. Foxconn purchased an electric vehicle production center in Ohio for $230 million, which will be used for the partnership.
Edward Hightower has over 30 of experience in the auto industry and is a leader in electric vehicle production as he was there from the beginning. Ninivaggi is excited about this change and what it means for the company. After the announcement, shares of Lordstown Motors rose.
Ninivaggi has worked with the company since 2021. Even though he only has a year of experience with Lordstown Motors, Ninivaggi worked on an overhaul of Lordstown’s production plan for the Endurance, led the production of an electric vehicle truck, and played a considerable role in the factory’s sale to Foxconn, establishing a new venture.
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