The 6.2 million sq ft site sold for $375m
Foxconn has sold a former General Motors factory and its machinery in Lordstown, Ohio, to an unnamed buyer for $375 million, three years after buying the facility.
According to a report from TechCrunch, Foxconn described the buyer of the 6.2 million sq ft (575,999 sqm) site as an “existing business partner.” Per records filed with the state, the purchaser is an entity named ‘Crescent Dune LLC’ and was established in Delaware 12 days ago.
TechCrunch said Matt Dewine, a spokesperson for Foxconn, declined to say more about the buyer. However, a separate report from the Wall Street Journal claimed that the company will work with partners to convert the facility into a plant that will make cloud computing hardware and servers for AI applications.
Foxconn bought the facility from electric vehicle startup Lordstown Motors in 2022. The startup had itself acquired the factory in 2019, but only succeeded in making a handful of electric pickup trucks at the site before entering into what would become an acrimonious partnership with Foxconn, and ultimately declaring bankruptcy in 2023.
Despite the sale, Foxconn said it remained committed to its US-based automotive customers, and last week, Foxconn announced a partnership with Teco Electric and Machinery, a company that specializes in the manufacture of electric motors.
The two companies will form a new data center business focused on modular designs, with manufacturing to be located in both Taiwan, where both are headquartered, and the United States.
