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Foxconn sells Lordstown car factory for $375 mln
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Foxconn sells Lordstown car factory for $375 mln
Aug 4, 2025 5:25 AM

TAIPEI, Aug 4 (Reuters) - Taiwan's Foxconn

said on Monday it had struck a deal to sell the Lordstown former

car factory in Ohio for $375 million, including its machinery,

but said it would continue to use the site to make a broader

range of products aligned with its strategic priorities.

Foxconn, which makes data center products for Nvidia ( NVDA )

and assembles iPhones for Apple ( AAPL ), did not

elaborate on products to be manufactured at the plant, but said

the cloud and networking product business in particularly showed

"significant growth".

A source with direct knowledge of the matter said the Ohio

site would support artificial intelligence data centers, without

specifying details.

Foxconn purchased the plant, a former General Motors

small-car factory named after the town in Ohio where it is

based, in 2022 from now-bankrupt U.S. electric vehicle startup

Lordstown Motors Corp for $230 million, as part of its efforts

to expand into EVs.

Foxconn also invested in Lordstown and the companies

started making electric pickup trucks there. But the partnership

later soured, with Lordstown going out of business and suing

Foxconn.

Foxconn said on Monday it sold the factory to an "existing

business partner", without giving details.

It also said the company remained committed to automotive

customers in the U.S. and said it would be able to rapidly ramp

up automotive production to meet customer demand when required.

Foxconn has expanded beyond its traditional role as an

iPhone assembler. Last week it formed a strategic partnership

with industrial motor maker TECO Electric & Machinery

to build data centres.

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