Foxconn Sells Ohio EV Factory After Repeated Production Failures
Foxconn exits U.S. EV factory dream, selling former GM plant after major electric vehicle setbacks.
Matilda
Foxconn Sells Ohio EV Factory After Repeated Production Failures Why Foxconn Sold Its U.S. EV Factory After Repeated Setbacks Foxconn’s decision to sell the former General Motors factory in Lordstown, Ohio, has reignited conversation around the company’s troubled electric vehicle (EV) strategy in the United States. The move marks the end of a three-year attempt to turn the facility into a major EV production hub—a goal that never truly materialized. Foxconn sells EV factory to a mysterious buyer following multiple failed partnerships, bankrupt collaborators, and unmet manufacturing promises. For many, this sale confirms what industry watchers have long suspected: the tech giant’s ambitious pivot to EV manufacturing in the U.S. was a misfire from the start. Image Credits:Bloomberg/ Getty Images Foxconn Sells EV Factory: A Deal Marked by Secrecy The factory Foxconn just offloaded was once owned by EV startup Lordstown Motors, acquired by Foxconn in 2021 for $230 million. Hopes were high then. The company claimed it would transform the site into its elect…
