TAIPEI - Foxconn Technology Co., which, according to reports, is selling the former GM Assembly Plant in Lordstown to Japanese investment firm SoftBank, has now announced plans to invest $1 billion in the United States over the next decade, according to a report published on Sunday.

The Taipei Times reported that the company states the $ 1 billion investment is part of a business transformation strategy focusing on precision mold development, smart manufacturing, robotics, and advanced automation. The plan will also emphasize artificial intelligence.

Foxconn Technology said the goal is to build a flexible, intelligent production ecosystem to enhance its competitiveness and sustainability, according to the Taipei Times.

Acting president Pan Yen-Jen said in a statement that the investment would strengthen the company's North American presence, deepen supply chain cooperation, and accelerate digital transformation. He added that the U.S. remains a vital hub for upgrading technology and driving innovation.

Bloomberg reported last week that SoftBank had purchased Foxconn's Lordstown manufacturing facility for $375 million. The report stated SoftBank had approached Foxconn to partner on a plan to build data centers and related infrastructure throughout the U.S. that could include the Lordstown plant.

When Foxconn announced the sale of the Lordstown manufacturing facility, it did not name SoftBank, only disclosing that the sale was to an existing business partner.  Foxconn said it would continue to occupy and operate the plant.

The Taipei Times does not mention SoftBank’s reported acquisition of the Lordstown facility.