Foxconn Buys Lordstown Motors Assembly Plant In $230 Million Deal

Lordstown Motors and Hon Hai Technology Group (aka Foxconn) have entered into a definitive Asset Purchase Agreement regarding LMC’s facility in Lordstown, Ohio.

The deal, which includes the sale of the plant to Foxconn for $230 million, was first announced on September 30.

Let's recall that this is the former GM Lordstown Complex, located in Voltage Valley in Lordstown, near Youngstown, Ohio. GM ceased production on March 6, 2019 and later sold the site to Lordstown Motors for $20 million (and loaned $40 million).