Foxconn Selling Lordstown, Ohio EV Assembly Plant
Foxconn has announced divestiture from electric vehicles in favor of artificial intelligence. Citing the market, the company announced that the over-abundance of EV architecture and supply versus demand and the high demand and low supply in AI warrant the change in strategy.
Nikkei reports that Foxconn is selling its entire facility and land in Lordstown, Ohio, for roughly $375 million. The move aligns with Foxconn’s strategic pivot toward focusing on AI data centers instead of manufacturing electric vehicles in that facility.
The Lordstown plant was originally acquired after Foxconn took over production operations from Lordstown Motors following its bankruptcy. Foxconn intends to redeploy capital and resources toward AI-related infrastructure, steering away from in‑house EV manufacturing at that location.
Why This Matters
- The sale marks a significant shift in Foxconn’s business strategy—moving away from direct hardware production in EVs toward cloud and AI infrastructure.
- The Lordstown facility, once seen as central to Foxconn’s EV ambitions in North America, will no longer be part of that plan.
- It signals a broader trend: Foxconn recalibrating its approach in the automotive industry, potentially relying more on partnerships, licensing, or outsourcing rather than owning factories in the U.S.
The post Foxconn Selling Lordstown, Ohio EV Assembly Plant appeared first on EV Meme.
Source: https://www.evmeme.com/foxconn-selling-lordstown-ohio-ev-assembly-plant/
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