The Taiwanese technology giant says it will invest up to $170m in Ohio-based Lordstown Motors.
The two companies also said they would jointly develop an electric vehicle together, although they did not give further details of the plan.
That would be two years after the original target for the highly-anticipated pick-up truck that Mr Musk unveiled in 2019. Separately on Monday, figures for the three months to the end of September showed a net loss of $154.4m, wider than the $95.8m loss the company reported for the same time last year.Last weekto produce electric vehicles in the kingdom.
Ceer will license technology from Germany's BMW and aims to start selling its electric vehicles from 2025.
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