Foxconn, the company that now owns the former GM Assembly Plant in Lordstown, has announced an agreement that could pave the way for manufacturing a fourth vehicle at the plant. 

Foxconn's parent company, Hon Hai Technology, has signed a memorandum of understanding with INDIEV to manufacture the first INDI One prototype vehicle.

INDIEV is a Los Angeles-based company founded in 2017 with the goal of making an electric vehicle controlled by an integrated computer.

In August, INDIEV released a video of an INDI One driving along Rodeo Drive in Beverly Hills, California.

With starting prices advertised at $45,000, the INDI One shown is said to have a range of 230 miles, with 275 horsepower, accelerating from zero to sixty in 6.7 seconds with a top speed of 120 mph.

Regarding the partnership, INDIEV founder and CEO Shi Hai said, "The INDI One is a unique vehicle in that it demands the highest quality of automotive craftsmanship as well as consumer electronics manufacturing and engineering," said INDIEV founder and CEO Shi Hai. "Partnering with Foxconn, the world's leader in consumer electronics, during this exciting time in their entry into electric vehicles means that INDI One drivers will lead the way into the future of personal transit."

Details of the potential collaboration beyond the prototype build will be disclosed later as both sides remain in negotiation, according to a joint statement from the companies.

Foxconn Chief Product Officer Jerry Hsiao says the memo of understanding with INDIEV marks the beginning of more discussions about the future of EV manufacturing in Ohio.

If negotiations result in a final agreement, INDI One could become the fourth vehicle manufactured at the Lordstown plant, joining the Monarch tractor, the Lordstown Motors Endurance pickup truck, and the Fisker PEAR EV.

"Throughout this process, Foxconn is confident in its Ohio workforce to manufacture quality prototypes that will help INDIEV achieve future success," said Hsiao.

Foxconn took over manufacturing operations in Lordstown after completing an Asset Purchase Agreement with Lordstown Motors Corporation.

The electric pickup truck production line in the facility has entered commercial production, and the tractor vehicle production line is expected to begin in the first quarter of 2023.