Taiwan's Foxconn said on Monday it had struck a deal to sell the Lordstown former car factory in 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 plans to work with partners to convert the former electric-truck factory into a plant making cloud computing hardware for AI applications.

The company has spent more than three years claiming the factory would become an "important" EV hub. But it has barely produced anything there.

Foxconn says it's staying in Lordstown, Ohio after selling plant