Lordstown Plant, Land Sells for $78.5M
LORDSTOWN, Ohio – The sprawling Lordstown Assembly plant is now officially in the hands of Foxconn.
According to the Trumbull County Auditor’s office, Foxconn EV Property Development LLC purchased the nearly 600 acres and buildings for $78.5 million from Lordstown Motors Corp.
The sale was recorded May 20, according to auditor’s records.
Lordstown Motors purchased the plant in December of 2019 for $20 million from General Motors Co., which produced vehicles at the site for more than 50 years.
Lordstown Motors reported on May 11 that it had finalized an asset purchase agreement with Taiwan-based Foxconn worth more than $230 million. Lordstown Motors also closed on two critical contract manufacturing and joint venture development agreements with Foxconn.
The sale consists of four parcels where the 6.2-million-square-foot Lordstown assembly complex is located. The land also includes another building that was converted into offices.
Copyright 2023 The Business Journal, Youngstown, Ohio.