Foxconn adjusts focus of US business

Foxconn recently announced the sale of its Ohio factory and related equipment for $375 million. The factory was once a key component of Foxconn's expansion into the US electric vehicle market. However, the successive collapses of its partners have forced Foxconn to reevaluate its US electric vehicle business. While Foxconn stated it will continue to invest in the US market, the sale indicates a de-prioritization of the electric vehicle business.