GM sells Lordstown factory to the offshoot of a struggling EV startup

Image: Lordstown Motors

The closed General Motors factory in Lordstown, Ohio that’s been at the center of the company’s tension with President Trump has a new owner: an electric vehicle startup called Lordstown Motors. The deal — which was surprise announced by Trump on Twitter back in May — was finalized Thursday. Terms were not disclosed.

The deal could bring hundreds, maybe thousands of jobs back to the area, and GM says the factory’s new purpose will help establish Ohio as a hub for EV manufacturing. (The automaker is itself looking to invest in a nearby factory in order to transform it into a battery-making facility.) But the Lordstown plant now rests in the hands of a small company that finds itself trying to do what almost no other startup has been able…

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Source:: The Verge – All Posts


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