Overview

• The company sold the Ohio plant’s real estate to Crescent Dune LLC for $88 million as part of a $375 million deal covering machinery and equipment
• Crescent Dune LLC was formed in Delaware just 12 days before the transaction and is described by Foxconn as an existing business partner
• Under a sale-and-leaseback arrangement, Foxconn will remain on-site as a tenant to continue its current manufacturing operations
• Proceeds from the sale will be reinvested into U.S. initiatives aimed at bolstering electric-vehicle programs and advanced manufacturing projects
• Foxconn plans to repurpose the Lordstown facility into a data-center hub for AI servers in response to softer demand in the North American electric-vehicle market