Workhorse To Buy GM's Lordstown Factory To Build Electric Pickup?

GM Lordstown Ohio factory

The move has the potential to bring significant production and electric vehicle assembly jobs to the plant.

Workhorse Group would acquire the factory, and hold a minority stake in a newly-formed joint-venture. But it was unclear who would own the rest.

"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", said Workhorse CEO Duane Hughes.

In coordination with the GM statement, Workhorse founder Steve Burns said, "The first vehicle we would plan to build if we were to purchase the Lordstown Complex would be a commercial electric pickup, blending Workhorse's technology with Lordstown's manufacturing expertise".

He also shared the news early that GM will invest about $700 million and create 450 jobs in three other OH cities, and praised CEO Mary Barra.

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.

DeWine said he was told by GM to start up, Workhorse would employ hundreds.

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"If things are not in place for this to happen, this would be very cruel to the workers and the people in Lordstown and the Mahoning Valley", he said. "It's definitely better than having 6 million square foot building sitting empty", he said.

Joining the announcement was news that GM is investing $700 million in plants in Toledo, Moraine and Parma, and adding more than 450 manufacturing jobs, which, Ryan said, might ease the burden on displaced Lordstown workers who may be able to stay with the company at another plant in OH rather than travel far. Many will be forced to transfer in order to preserve seniority and pension eligibility, O'Hara said. Workhorse officials said they intend to work with the union, but a previously unionized plant it bought from Navistar in 2013 now operates with a non-union work force, according to the company's annual report. "The General Motors workers are being asked to leave and go to other facilities". More than 1,350 employees from GM's unallocated plants, including Lordstown, have already accepted transfers.

"General Motors should assign a product to the Lordstown facility and continue operating it", Dittes said. The union has sued over the closure of Lordstown and three other US plants, saying the moves violate GM's contract with the union. "GM will also be spending $700,000,000 in OH". He wrote that the sale is subject to an agreement with the United Auto Workers union and that he got the news in a conversation with GM CEO Mary Barra. The UAW sued GM in February, alleging the company breached its contract by announcing in November that three facilities in Ohio, Michigan and Maryland would stop production.

So, something is in the works but what the President said wasn't true.

In the meantime, the company has developed a name-and a revenue stream-converting delivery vans to electric power.

Workhorse reported that its first quarter sales for this year were at $364,000, down from $560,000 for the quarter in 2018.

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