Foxconn is selling the former General Motors car factory in Lordstown, Ohio, to Crescent Dune LLC for a total of $375 million. The sale includes the buildings, land, equipment, and machinery. Crescent Dune LLC, established shortly before the sale, is described by Foxconn as an existing business partner. The land and factory will be sold for $88 million, while machinery and equipment will be sold in separate transactions totaling $287 million. Despite the sale, Foxconn plans to continue manufacturing at the facility and remains committed to its automotive industry stakeholders.
Foxconn, the Taiwanese contract manufacturer best known for making Apple iPhones, is selling the former General Motors car factory in Lordstown, Ohio. The mystery buyer, called Crescent Dune LLC, will pay a total of $375 million to acquire the site's buildings, land, equipment, and machinery, according to documents submitted to Taiwan's stock exchange quoted by Automotive News.
The factory and land will be sold by Foxconn for roughly $88 million. Meanwhile, one batch of machinery and equipment will be sold under a different $257 million transaction on behalf of Foxconn's EV Asset Management subsidiary. A second batch will be sold by EV System LLC for $30 million.
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