Published: Sat, May 11, 2019
Money | By Ethel Goodwin

GM plans to sell Lordstown factory to electrified ute company

GM plans to sell Lordstown factory to electrified ute company

Sen. Sherrod Brown said he welcomed the news of GM's investment and new jobs at its other OH plants, but questioned whether the sale of the Lordstown plant would make up for the thousands who have been laid off there since 2016.

Shares of Workhorse soared more than 214 percent Wednesday after news of the negotiations and Trump's tweet broke. Trucks.com reported the offered a battery-electric prototype for USPS' request.

While still in the early stages, the automaker specifically lays out that once the agreement is in place, "work could begin immediately to prepare the facility for new production".

The contract expires September 14.

"We will monitor this situation as it develops to determine what course of action will most benefit UAW-represented workers at General Motors", Dittes said.

The DMAX plant in Moraine is expanding diesel engine production for GM's all-new heavy-duty pickups, which go on sale later this year. I also spoke with Dave Green, UAW Local 1112 president, about the news. (NYSE: GM) announced today that it is creating more than 450 manufacturing jobs in three OH cities.

"I can surmise that if there is a contract with the U.S. Postal Service, there'll be investors", DeWine said.

More than 1,500 people lost their jobs when the GM plant closed in March. "Anybody that wants to continue working for them is going to have to transfer out".

At the same time, GM announced investments in three other manufacturing facilities in OH: in Toledo, Moraine and Parma, creating a total of 450 new jobs.

The top USA automaker confirmed in a statement Wednesday that talks between the companies were underway.

President Donald Trump tweeted his enthusiastic approval yesterday of a plan by General Motors to sell its shuttered but "beautiful" assembly plant in Lordstown, Ohio to a Loveland, Ohio-based company called Workhorse Group.

GM sent out a press release stating that the plant would be taken over by Workhorse and "an affiliated, newly formed entity". Workhorse would hold a minority interest in the new entity.

Burns said they plan to build a commercial electric pickup truck at the facility. About $300 million will be geared towards production of electric vehicles at the auto giant's Orion plant in MI, creating 400 jobs, the company said in a statement.

Workhorse founder Steve Burns said in a statement.

It is not clear who would own the rest, but GM is the obvious candidate.

Lt. Gov. Jon Husted said he has made several visits to Workhorse's facility that were unrelated to the GM deal. "That would be one of the goals of the company as they grow their business - to get a contract with the post office", DeWine said. No final deal has been reached, he said.

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