Foxconn spent years promising electric vehicles would be built at the former Chevy Cruze factory. Now it will make AI servers.

SoftBank Group Corp. is the buyer taking ownership of Foxconn Technology Group’s electric vehicle plant in Ohio, a move aimed at kick-starting the Japanese company’s $500 billion Stargate data center project with OpenAI and Oracle Corp.

SoftBank Group Corp is acquiring Foxconn Technology Group's electric vehicle plant in Ohio, in a bid to launch the Japanese company's Stargate data center project, Bloomberg News reported on Friday. U.

SoftBank has reportedly bought Foxconn Ohio EV plant at $375 million to advance the Stargate AI data center project in collaboration with OpenAI and Oracle.

Earlier this week, Hon Hai Precision Industry, the flagship unit of Foxconn, said it agreed to sell the EV plant to Crescent Dune LLC for $375M without disclosing the company behind the entity. SoftBank is Foxconn’s counterparty in the transaction, the report noted.