Foxconn Sells Lordstown Plant, Focuses on AI Expansion

Foxconn has sold its Lordstown, Ohio automotive plant and related equipment to Crescent Dune LLC, an existing business partner, for a total of $375 million, while retaining operational control of the facility. The company plans to focus its activities at the site on AI data centers and cloud computing hardware, marking a strategic shift toward advanced manufacturing and data infrastructure in the U.S. Foxconn will reinvest the proceeds into American initiatives, aiming for greater operational efficiency and flexibility. Despite divesting property ownership, Foxconn maintains its commitment to automotive and electric vehicle production and retains the ability to scale output. Local and industry leaders view the move as transformative for the Mahoning Valley, potentially driving new economic opportunities and tech sector growth. The plant, previously owned by General Motors and Lordstown Motors, continues as a cornerstone of Foxconn's U.S. operations amid a broader industry shift toward asset-light strategies.