US Edition'A Pivotal Moment': Foxconn Sells Lordstown Plant to 'Existing Business Partner,' but Plans to Continue Occupying Facility
TRUMBULL COUNTY, OHIO, AUG 4 – Foxconn sold the Lordstown plant and equipment for $375 million to reinvest in U.S. operations focusing on artificial intelligence and cloud computing hardware, company said.
- Foxconn sold the 6.2 million-square-foot former General Motors factory in Lordstown, Ohio, to Crescent Dune LLC but will continue occupying the site.
- In 2022, Foxconn purchased the Lordstown plant from Lordstown Motors for $230 million, taking over operations after General Motors closed the facility in 2019; subsequently, Lordstown Motors declared bankruptcy in mid-2023.
- The sale includes land, buildings, and machinery, totaling $375 million, with proceeds expected to be reinvested in the United States as Foxconn shifts focus to AI and cloud hardware production.
- Foxconn indicated that the sale is intended to enhance adaptability and streamline operations while preparing the facility for expansion into new business areas, and emphasized its ability to quickly increase automotive production when necessary.
- The sale represents a significant development for the Mahoning Valley by creating new advanced manufacturing prospects and highlights Foxconn's growing commitment to AI infrastructure and expanding its operations across the U.S.
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Lordstown plant could start building A.I. equipment
LORDSTOWN, Ohio (WKBN) - Foxconn has sold its Lordstown plant, but the company says it will still operate at the facility. Local bait shop closing; all items up for auction According to a statement from Foxconn, after selling the plant and all of its equipment to a firm called "Crescent Dune," money from the sale will be reinvested in the United States. Published reports say the sale price of the Lordstown plant was $375 million. Foxconn s…
Foxconn sells Ohio EV assets in shift to AI, data centers: Source - Focus Taiwan
Taipei, Aug. 5 (CNA) The disposal of electric vehicle assets in Ohio by Taiwan-based manufacturing giant Hon Hai Precision Industry Co. (Foxconn) is aimed at boosting its artificial intelligence and data center development, according to an industrial source.
'A pivotal moment': Foxconn sells Lordstown plant to 'existing business partner,' but plans to continue occupying facility
Foxconn sells former GM plant in Lordstown to 'a business partner,' but will remain on-site as the facility reportedly shifts toward cloud computing and AI hardware.
Foxconn sells Lordstown facility for $88 million, to continue to occupy premises
TAIPEI :Foxconn said on Monday it had struck a deal to sell the former Lordstown factory in Ohio for $88 million, saying it planned to reinvest the proceeds in the United States and would continue to occupy the facility.The Taiwanese company said in regulatory filings it had sold the Lordstown premises to a c
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