Taiwan-based Foxconn has struck a deal to sell its former car factory in Lordstown, Ohio for $375 million to an “existing business partner”. The sale includes the site’s buildings, land, equipment and machinery, but the company said it would continue to operate the location to make more products that align with its “strategic priorities.”

Taiwan's Foxconn said on Monday it had struck a deal to sell a former car factory at Lordstown, Ohio, for $375 million, including its machinery, but said it would continue to use the site to make a broader range of products aligned with its strategic priorities.

Foxconn has sold its Lordstown Assembly plant to an “existing business partner” but will continue to occupy the factory.