Foxconn said on Monday it had struck a deal to sell the former Lordstown factory in Ohio for $88 million, saying it planned to reinvest the proceeds in the United States and would continue to occupy the facility.

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

Foxconn announced this week it has sold the 6.2 million square feet plant to a newly formed company out of Delaware.