The former General Motors Lordstown plant sold for a reported $375 million in August 2025. The first report did not identify the buyer, but Hon Hai’s disclosure named Crescent Dune LLC as the transaction counterparty, and Bloomberg later reported SoftBank Group as the buyer. The available reports do not explain the full relationship between Crescent Dune and SoftBank.
How the buyer was identified
The headline “Former GM Lordstown Plant Sold Again, New Owners Not Named” reflects the information available in the first report on August 4, 2025—not what later reporting established. 198 Automobile News reported that Foxconn had sold the former GM assembly plant and described the purchaser as an “existing business partner,” without naming it.
Hon Hai Precision Industry Co., Foxconn’s parent, disclosed the transaction on August 4. Its filing named Crescent Dune LLC as counterparty for the property and machinery transactions. On August 8, Bloomberg reported SoftBank Group Corp. was the buyer, citing unnamed people familiar with the matter. The sources identify Crescent Dune as the named counterparty and SoftBank as the buyer reported by Bloomberg; they do not establish how the two entities are legally related.
What the $375 million sale included
The reported total was $375 million. Hon Hai’s August 4, 2025 disclosure separated the consideration into real estate and two machinery-and-equipment transactions:
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| Disclosure item | Amount | Details in Hon Hai’s filing |
|---|---|---|
| Land and buildings | $88 million | 599.586 acres and buildings totaling 6,043,482 square feet; Crescent Dune LLC named as counterparty. |
| Machinery and equipment | $257 million | Transaction reported for Foxconn EV Asset Management LLC; Crescent Dune LLC named as counterparty. |
| Machinery and equipment | $30 million | Transaction reported for Foxconn EV System LLC; Crescent Dune LLC named as counterparty. |
| Total of disclosed amounts | $375 million | $88 million plus $257 million plus $30 million. |
The itemized figures come from Hon Hai’s disclosure, reproduced by TradingView/Refinitiv. The first report also gave the $375 million total.
What the site may be used for
Bloomberg connected the acquisition to SoftBank’s Stargate AI data-center plans. That is a reported intended direction, not evidence that the plant had already been converted or was producing data-center equipment. The reporting cited for the sale does not establish the facility’s current production, staffing, or operating status.
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The August 4 report said Foxconn would continue to use the site. That statement describes the arrangement as reported at the time; it does not, by itself, establish the exact present-day operating relationship.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why the plant has changed hands
The Lordstown, Ohio, facility was the former GM Lordstown vehicle assembly plant. The August 4 report says GM’s factory became unallocated in 2019 and was later acquired by Lordstown Motors, then Foxconn in 2022. It also notes the plant’s vehicle history, including production of the Chevrolet Cruze. The sale discussed here is a later transaction involving the property and equipment, not a new report of vehicle production.
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