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Foxconn officially owns Lordstown auto plant

LORDSTOWN – Foxconn now owns the 6.2 million-square foot auto assembly plant in Lordstown, where the Taiwan-based global electronics assembler and technology giant intends to mass produce electric vehicles.

Foxconn affiliate, Foxconn EV Property Development LLC, acquired the buildings and the 599 acres on they sit for $78.5 million from electric-vehicle startup Lordstown Motors Corp., according to the Trumbull County Auditor’s Office.

It was May 11 when Lordstown Motors announced it had finalized a $230 million asset purchase agreement with Foxconn for the massive facility that for more than 50 years had churned out vehicles for General Motors.

GM closed the plant in March 2019. In December of that year, Lordstown Motors purchased the plant from GM for $20 million.

Read Wednesday’s print edition of the Tribune Chronicle or online at www.tribtoday.com for more on this story.

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