Foxconn sells former GM factory to mystery buyer after failing to make EVs

Foxconn has sold the former GM factory for three years since failing to stand any meaningful, large -scale electric vehicle production.

Pivot Foxconn identifies the second larger failure to help US production recovery to provide its promises. IPhone-maker once promised to build a huge LCD factory in Wisconsin — a project that Donald Trump In his first term is called “the eighth wonder of the world” – and underdilivering up the harmful An extreme degreeThe

Foxcon says the buyer is an “existing business partner” called “Crescent Dun LLC”, which is made only 12 days before the Delaware, according to the records filed with the state. Foxcon spokesperson Matt Dewin refused to say more about the buyer.

At the Taiwan Stock Exchange Filling Show, Foxconn has sold about $ 88 million from its EV assistant companies and factory and land for equipment and equipment.

A Foxconn representative said Automotive news The company “will be involved in making products for customers at the Lordstown facility” and claimed that it was “committed to customers and suppliers” in the automotive industry. However Wall Street Journal Report on Monday That Foxconn is now planning to create AI servers in the factory. DYIN did not immediately respond to any request to comment in the report.

Foxcon announced the former GM plant in 2021 to purchase the $ 230 million, while it was still owned by EV Startup Lordstown Motors. At the time, Foxcon Chairman Young Liu said that “it is going to be the most important electric vehicle manufacturing and research and development center in North America.”

When Foxcon was developing its own EVs in Asia, it also concentrated on contract production in the United States. And, briefly, Foxcon, three electric vehicles, hoped that the factory would go bankrupt.

Foxconn actually created a few EVs in the factory for degraded Lordstown motors. However, Taiwan’s electronics giant was injured in a bitter battle with the disturbing EV startup. Lordstown Motors filed for bankruptcy in June 2021, and Foxconn – which has initially become investor – “starvation of cash”, and accused it “destroyed the business in malicious and bad faith”.

A small EV startup called Foxcon Indiv also took a flyer, claiming that it would create its electric SUV at the Ohio factory. Has filed for the indive bankruptcy October 2023 Less than $ 3 million in the bank. Was supposed to do foxcons Make EVs for Fiscker Inc. As well. Fisher Filed for bankruptcy on June 2024The

Fourth company, king tractor, Did not have too much impactFoxconn does not create hundreds of electric tractors. The king’s chief executive officer, Prabin Penmetsa, did not respond to any email request to comment on whether its tractors would be built in Ohio.