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

Daniel Fowler
May 9, 2019

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.

The potential sale, first announced on Twitter by President Donald Trump, could preserve some jobs at the sprawling plant 60 miles east of Cleveland.

Terry Dittes, UAW vice president, told the media, "The UAW's position is unequivocal: General Motors should assign a product to the Lordstown facility and continue operating it".

"They are I guess what you would consider kind of a;tech start-up' that's focused on electric mobility solutions for the transportation sector", said Dan Flores, a spokesperson with GM. The automaker touts the move as an opportunity to "bring significant production and electric vehicle assembly jobs to the plant". "The General Motors workers are being asked to leave and go to other facilities". "Great news for Ohio", Trump tweeted. The company's CEO, Duane Hughes, said in a statement that the agreement could be a "positive outcome" for all while solidifying Workhorse's "role in the EV community".

Workhorse and a newly formed entity, in which Workhorse holds a minority stake, would initially employ "hundreds" at the plant building a commercial electric pickup truck, Workhorse officials said.

DeWine said he was "trying to be realistic" about what might happen.

GM also said on Wednesday it will invest $700 million and add 450 jobs at its Toledo, Parma and Moraine, Ohio, operations.

GM said more than 1,350 blue-collar workers have accepted transfers to other GM factories from four USA plants that are slated to close.

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Should this sale finalize, the fate of the plant - widely thought to be in the hands of negotiators with the UAW and GM when they sit down later this year to hash out a new collective bargaining agreement - already will have been sealed and GM won't be part of its future.

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

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

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

The announcement came just after GM and the Canadian auto workers union reached a deal to save 300 jobs at an Ontario factory that is slated to close by the end of this year.

It also reported having $2.8 million in cash and short-term investments.

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

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