GM Sells Lordstown Factory to EV Maker
General Motors Co. has sold its shuttered auto plant in Lordstown, Ohio, to electric truck startup Lordstown Motors Corp. Terms were not disclosed.
Lordstown Motors aims to use at least part of the huge complex to make electric pickup trucks for commercial applications. The startup also is among several vendors vying for a big contract to supply electrified mail delivery vehicles to the U.S. Postal Service.
Lordstown Motors is affiliated with Workhorse Group Inc., a struggling maker of electric commercial vehicles that reported second-quarter sales of just $6,000. Workhorse hasn’t turned a quarterly profit in at least 10 years, according to the Financial Times.
The first model built by Lordstown Motors is expected to be the Endurance truck (pictured), which Workhorse has been developing. Workhorse founder and Lordstown CEO Steve Burns tells Bloomberg News that the latter company has sufficient cash to buy the plant. But he says Lordstown Motors needs more funding to continue product development and ready the factory for EV production.
GM closed the Lordstown plant in March, 53 years after the facility opened. The factory had been making slow-selling Chevrolet Cruze sedans, but GM declined to assign a new vehicle program to the underutilized facility.
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