Foxconn's parent company Hon Hai Precision Industry Company filed a motion in the Lordstown Motors Corp. bankruptcy case Monday asking the US Bankruptcy Court judge to dismiss the Chapter 11 reorganization bankruptcy filing or change to filing to a Chapter 7 liquidation of assets.

Lordstown Motors filed for bankruptcy protection in late June.

The CEO and president of Lordstown Motors Corp., Edward Hightower, submitted a declaration in objection to the Foxconn request, stating that while the company had to lay off more than half of its workforce, but stated that Chapter 11 would maximize the company's chances of finding a buyer.

Hightower blamed the lack of "large infusion of capital" that he alleged Foxconn had committed to provide, which hampered the new business plan the company wanted to implement.

Hightower stated that in launching the Endurance EV truck, the company had achieved something obtained by "few of the new electric vehicle OEMs," adding that the truck was built and launched to what he called "favorable feedback from customers.' The CEO said with the support of a suitable investor, he feels Lordstown Motors could scale production for higher volumes.

Hightower said stated with or without a sale, the Chapter 11 filing allows for "an orderly and efficient method for winding down the company's affairs," the filing reads.

Lordstown Motors has a Chapter 11 hearing set in Delaware on Aug. 30 at 2pm.