GM loans $40 million to Lordstown Motors to buy, retool shuttered factory
GM loans $40 million to Lordstown Motors to buy, retool shuttered factory
General Motors Co confirmed on Monday it agreed to loan $40 million to an electric vehicle start-up to facilitate the acquisition of its shuttered Lordstown Assembly plant in Ohio. Lordstown Motors Corp, which is 10% owned by Workhorse Group Inc , bought the plant and equipment for $20 million in November as part of its ambitious plan to begin building electric pickup trucks by the end of 2020. The loan agreement, which was reported earlier Monday by the Business Journal in Youn
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General Motors Co confirmed on Monday it agreed to loan $40 million to an electric vehicle start-up to facilitate the acquisition of its shuttered Lordstown Assembly plant in Ohio. Lordstown Motors Corp, which is 10% owned by Workhorse Group Inc , bought the plant and equipment for $20 million in November as part of its ambitious plan to begin building electric pickup trucks by the end of 2020. The loan agreement, which was reported earlier Monday by the Business Journal in Youn
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GM loans $40 million to Lordstown Motors to buy, retool shuttered factory originally appeared on Autoblog on Tue, 10 Dec 2019 09:19:00 EST. Please see our terms for use of feeds.
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