TAIPEI (Taiwan News) — Taiwan-based Foxconn Technology Group plans to buy a car plant in the American state of Ohio to build electric vehicles, unconfirmed reports said Thursday (Sept. 30).

In the past two years since it purchased the factory from General Motors, Lordstown Motors has worked on a project to launch an electric pickup truck, according to a Bloomberg report. The deal with Foxconn is likely to be announced this week.

No value has been put on the transaction yet, but embattled Lordstown reportedly needs cash, and an agreement with Foxconn would allow it to produce multiple models at the same factory. The U.S. company has been embroiled in investigations into its projections and hit by top management changes.

The plant would be Foxconn's first manufacturing facility in the U.S. for its plans to produce electric vehicles, including cars and buses. Foxconn has already concluded agreements with carmakers Stellantis, Fisker and Taiwan’s Yulon Group.