Wednesday, 19 June, 2019


GM in talks to sell Lordstown plant to EV startup Workhorse

GM in talks to sell Lordstown plant to EV startup Workhorse GM in talks to sell Lordstown plant to EV startup Workhorse
Conrad Doyle | 09 May, 2019, 15:24

According to President Trump, the deal is subject to approval by the United Auto Workers (UAW) union, which seems to be unimpressed by this latest development. The move has the potential to bring significant production and electric vehicle assembly jobs to the plant. I have been working nicely with GM to get this done. Just spoke to Mary Barra, CEO of General Motors, who informed me that, subject to a UAW agreement etc., GM will be selling their handsome Lordstown Plant to Workhorse, where they plan to build Electric Trucks. Union workers were livid that they agreed to make $118 million a year in annual concessions to save the plant in mid 2017, only to have the company effectively threaten to close it down a year and a half later.

This news all comes after GM announced in November it would close three assembly plants and two propulsion plants in Michigan, Ohio, Maryland and Ontario by the end of 2019. But the complex wouldn't be sold directly to Workhorse, per se - instead, Workhorse's founder is leading an independent entity that would purchase the facility, with Workhorse commanding a minority interest in said business entity.

"This potential agreement creates a positive outcome for all parties involved and will help solidify the leadership of Workhorse's role in the EV community", Workhorse CEO Duane Hughes said in a press release Wednesday.

The first vehicle Workhorse plans to build in Lordstown if an agreement is reached is a commercial electric pickup, Hughes said in a statement. That number could rise to 3,000 over several years if Workhorse were to win a contract with the U.S. Postal Service, DeWine said.

DeWine said he was "trying to be realistic" about what might happen. GM later confirmed that it is still in talks about a possible sale of the Warren, Ohio-based plant.

It likely would take at least a year before the plant, which halted production in March, could reopen after a deal was reached, Ohio's governor, DeWine, said.

Trump also Tweeted that GM would be spending $700 million in OH at three locations, creating 450 jobs.

Hourly employees from GM plants may request a transfer to other UAW-represented sites as jobs are created. It had just $2.8 million in cash on hand at the end of March and reported first-quarter sales of $364,000.

Workhorse also announced plans past year to develop a hybrid-powered passenger drone, and has suggested it could build similar models for its package delivery customers.

But the remainder of the 2,600 workers at the plant in Oshawa, near Toronto, are still scheduled to be laid off.

Terry Dittes, a vice president of the UAW and director of its department that oversees negotiations with GM, said in a statement that the union's position was "unequivocal".

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