Foxconn remains committed to the Mahoning Valley after relinquishing ownership of its Lordstown automotive facility under a $375 million deal, the company announced Monday.

The Taiwanese company will remain at the plant for the long term and focus on its artificial intelligence data center development. Its agreement with Crescent Dune LLC, whom Foxconn officials referred to as an existing partner, covers the sale of land and equipment.

“The transaction is designed to provide greater flexibility and operational efficiency as the company positions the site for future growth,” a Foxconn spokesman said in a news release. “Proceeds from the sale will be reinvested in the United States, and is part of Foxconn investments that is expected to grow exponentially.”

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