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What Happened to Foxconn’s Planned U.S. and Thailand EV Factories?

Foxconn’s 2021 factory plan set ambitious targets. Ohio saw limited vehicle production before a shift in site plans; Thailand construction began, but production remains unconfirmed in the cited company milestones.
From TheFinanceBase Team3 min to read
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Foxconn’s 2021 plan called for EV factories in the United States and Thailand to be built in 2022, with mass production targeted for 2023. Those dates were goals, not proof that both factories opened on schedule. The Ohio project used an existing auto plant and later produced electric tractors; the Thailand project began construction, but the available company milestones do not confirm that production started.

What Foxconn announced in 2021

On August 12, 2021, Foxconn was reported to be planning EV factories in the United States and Thailand in 2022, with mass production expected the following year. The U.S. plan centered on Lordstown, Ohio, while the Thai project was developed with energy company PTT. These were forward-looking targets, not a record of completed construction or production. TechCrunch’s contemporaneous report covered the proposed schedule.

Foxconn and PTT announced an integrated EV manufacturing plan in Thailand in August 2021. The announcement described a five-to-six-year investment plan and said the facility could be located in the Eastern Economic Corridor. Those details described intentions at the time, not verified completion of the investment or confirmation of the eventual site. Foxconn’s announcement with PTT set out the original proposal.

How the U.S. and Thailand projects differed

Project Starting point Documented progress What the cited sources do not establish
Ohio, United States Acquisition of Lordstown Motors’ existing production facility. The transaction closed in May 2022, and Foxconn later reported initial production of five Monarch electric tractors in 2023. Ongoing EV production as the site’s current purpose; Foxconn’s 2025 results describe a cloud- and networking-products plan instead.
Thailand A new integrated EV manufacturing project developed with PTT through Horizon Plus. Foxconn later reported that construction began in 2022; Horizon Plus lists equipment installation in Q1 2025 and production in 2025 as milestones. Whether production actually began; the milestone listing is not confirmation of a completed start.

What happened at the Ohio site

Foxconn acquired Lordstown’s facility

Lordstown Motors said its asset-purchase transaction with Foxconn closed on May 11, 2022. The filing also records the formation of MIH EV Design LLC to develop and industrialize all-electric commercial vehicles. Foxconn’s 2022 Annual Handbook described the acquisition of Lordstown’s Ohio production base. Lordstown’s SEC filing documents the transaction and related venture.

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Initial tractor production followed, not proof of mass-market EV output

In April 2023, Foxconn announced that the first five Monarch MK-V electric tractors had rolled off the Ohio production line. That is evidence of initial vehicle manufacturing at the facility. It does not establish mass production of Foxconn-branded passenger cars or achievement of the original 2023 mass-production target. Foxconn’s announcement identifies the five tractors.

Foxconn later described a different use for the site

Foxconn’s 2025 Q2 results page describes an Ohio asset disposal and a plan to revitalize the site to manufacture cloud and networking products in response to U.S. demand for AI computing. That later statement points to a changed site strategy; it does not support describing the Ohio facility as currently focused on EV production. Foxconn’s 2025 Q2 results provide the company’s description.

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What is known about the Thailand factory

Construction was reported to have started in 2022

Foxconn’s 2022 Annual Report, published in 2023, says its partner PTT in Thailand started construction of the EV factory in 2022. This is retrospective company reporting that construction began; it does not establish that the plant was completed or began production. Foxconn’s 2022 Annual Report records the construction start.

Horizon Plus describes a manufacturing-services project

The Thai venture is known as Horizon Plus. Its description covers EV design, production-system setup, supply-chain management, and assembly services. That makes the project broader than a simple Foxconn-branded car factory selling its own retail vehicles. The company’s current project page lists equipment installation in Q1 2025 and production in 2025. These are stated milestones; the page does not verify that either milestone was met or that production commenced. Horizon Plus’s About Us page gives its project description and schedule.

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Did both factories open on the original schedule?

The evidence does not show two completed factories entering mass production in 2022 or 2023. In Ohio, Foxconn acquired an existing plant in 2022 and reported an initial run of five electric tractors in 2023, while its later account describes a move toward cloud and networking products at the site. In Thailand, construction began in 2022, but the available Horizon Plus milestone page does not confirm that production began in 2025. The original announcement should therefore be read as a plan with targets, not as proof that both sites delivered EV mass production on schedule.

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