Overview

• Foxconn finalized the sale of its Lordstown, Ohio plant to Crescent Dune LLC for $88 million.
• The company divested roughly $287 million of machinery and equipment, maintaining production operations on site.
• Crescent Dune LLC was formed just days before the purchase and has few public details despite being labeled an existing partner.
• The facility never achieved large-scale electric vehicle output after partnerships with bankrupt startups.
• Foxconn plans to reinvest the proceeds into US initiatives spanning electric vehicles, advanced manufacturing, artificial intelligence and server production.