LORDSTOWN, Ohio — For the last several years, the name Foxconn has greeted motorists driving along I-90 through Lordstown. It's the name of the Taiwanese company that owns the former GM Assembly plant and utilizes part of the space in its manufacturing endeavors. That will soon end, the ownership part, not the occupancy. Foxconn announced this week it has sold the 6.2 million square feet plant to a newly formed company out of Delaware.
"Foxconn will continue to occupy the Lordstown facility, following its sale to an existing business partner," Foxconn told News 5 in a statement. "The transaction is designed to provide greater flexibility and operational efficiency as the company positions the site for future growth. Proceeds from the sale will be reinvested in the United States, and is part of Foxconn's investments that is expected to grow exponentially. Over time, the facility is expected to support a broader range of uses, aligned with the company’s evolving strategic priorities.
"This site is an important part of the company’s footprint in the United States. The decision to sell the facility is part of the company’s plan to expand into new business areas," Foxconn's statement read.
Local business leaders believe the move will open a wide door to Foxconn's future growth.
"What we anticipate is this will mean not only will all 6.2 million square feet be put back into production, but that there would be a significant number of people working there to use all of that space," said Guy Coviello, president and CEO of the Youngstown/Warren Regional Chamber. "So we're looking forward to future announcements coming from Foxconn and its new partner, and we think this is a monumental pivotal moment for the Mahoning Valley."
The former GM Assembly Plant was for decades a symbol of America's industrial might, employing thousands of workers in good-paying jobs for generations. It was a run that President Trump predicted in a July 2017 visit to the area, which showed no sign of ending.
"Let me tell you folks in Ohio and in this area don't sell your house, don't sell your house," the president said at the time.
A year and a half later, that's what many were forced to do when GM announced they were ending production here, sending those who wanted to continue working for GM to plants across the country.
"If you go back to 2018, the holiday season was one of the gloomiest in this community's history," Coviello recalled.
New hope came in 2019 when what would eventually be Lordstown Motors took over a portion of the plant and, in 2020, began production of an all-electric pickup. Vice President Pence was among those on hand for the reveal in June of 2020, telling News 5 at the time, "Today's announcement represents a new beginning."
They had hoped to utilize the entire plant, but the venture soon failed. It was then that Foxconn stepped in, carrying forward its promise of manufacturing growth here.
"What we're seeing in some of the research is that it looks like this is moving the facility towards hardware for AI, hardware for data centers, and so that excites us too," Coviello said.
In the meantime, Foxconn's statement leaves the automotive door open.
"The US is a key automotive market and we are committed to customers and suppliers in this market. Foxconn will be able to rapidly ramp up automotive production to meet customer demand when required. In coming months, Foxconn expects to be able to share more of our strategy in these areas in the United States."
