Foxconn sells Lordstown facility for $88 million, to continue to occupy premises

Reuters08-04

TAIPEI, Aug 4 (Reuters) - Foxconn 2317.TW 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 company called Crescent Dune LLC. In a separate statement, it described the buyer as an "existing business partner".

Foxconn purchased the plant in 2022 from now-bankrupt U.S. electric vehicle startup Lordstown Motors Corp for $230 million.

(Reporting by Wen-Yee Lee and Faith Hung in Taipei, Writing by Brenda Goh; Editing by Kirsten Donovan)

((brenda.goh@thomsonreuters.com; +86 (0) 21 2083 0088; Reuters Messaging: brenda.goh.thomsonreuters.com@reuters.net))

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