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Foxconn Sells Lordstown Factory to Fund Shift into AI Server Production

Leasing back the site unlocks funds to accelerate Foxconn’s shift into AI server production

Overview

  • The company sold the Ohio plant’s real estate to Crescent Dune LLC for $88 million as part of a $375 million deal covering machinery and equipment
  • Crescent Dune LLC was formed in Delaware just 12 days before the transaction and is described by Foxconn as an existing business partner
  • Under a sale-and-leaseback arrangement, Foxconn will remain on-site as a tenant to continue its current manufacturing operations
  • Proceeds from the sale will be reinvested into U.S. initiatives aimed at bolstering electric-vehicle programs and advanced manufacturing projects
  • Foxconn plans to repurpose the Lordstown facility into a data-center hub for AI servers in response to softer demand in the North American electric-vehicle market