Trump Says GM to Sell Its Lordstown Plant to an Electric-Truck Maker
May 08 2019 - 12:50PM
Dow Jones News
By Mike Colias
President Trump said General Motors Co. will sell its shuttered
assembly plant in Lordstown, Ohio, to an electric-truck maker and
praised the auto maker for creating jobs in the politically pivotal
state.
In a series of tweets on Wednesday, Mr. Trump said he was
informed of the deal during a conversation with GM Chief Executive
Mary Barra.
GM has a tentative agreement to sell the factory to
Cincinnati-based Workhorse Group Inc., which builds and sells
electric trucks and aircraft, a person familiar with the matter
said.
"Just spoke to Mary Barra, CEO of General Motors, who informed
me that, subject to a UAW agreement etc., GM will be selling their
beautiful Lordstown Plant to Workhorse, where they plan to build
Electric Trucks," Mr. Trump tweeted Wednesday.
A GM spokesman said the company would provide a statement
related to Ohio later Wednesday. A representative for Workhorse
didn't immediately respond to a request for comment.
Mr. Trump also said Ms. Barra has committed to spending $700
million in Ohio at three separate locations, creating 450 jobs. The
time frame for that investment is unclear.
GM plans to spend that amount across a factory in Toledo that
makes transmissions, a diesel-engine plant near Dayton and a
stamping facility in suburban Cleveland, a separate person familiar
with the matter said. The time frame for the investment couldn't be
learned.
"I have been working nicely with GM to get this done," Mr. Trump
tweeted.
Mr. Trump criticized GM for its announcement in November that it
would end production at its Lordstown factory and several other
U.S. plants, putting more than 6,000 jobs in jeopardy.
GM said last week that it has open positions for all the workers
affected by those moves, though many would have to relocate.
Write to Mike Colias at Mike.Colias@wsj.com
(END) Dow Jones Newswires
May 08, 2019 12:35 ET (16:35 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
General Motors (NYSE:GM)
Historical Stock Chart
From Mar 2024 to Apr 2024
General Motors (NYSE:GM)
Historical Stock Chart
From Apr 2023 to Apr 2024