Taiwan's Foxconn said on Monday it had struck a deal to sell a former car factory at Lordstown, 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 announced this week it has sold the 6.2 million square feet plant to a newly formed company out of Delaware.

Foxconn has sold its Lordstown Assembly plant to an “existing business partner” but will continue to occupy the factory.