GM In Talks With Workhorse Group To Sell Its Lordstown, Ohio, Complex
(RTTNews) - General Motors Co. (GM) said that it is in discussions with Workhorse Group Inc. (WKHS) to sell the company's Lordstown Complex in Lordstown, Ohio. The move has the potential to bring significant production and electric vehicle assembly jobs to the plant.
Upon final agreement, the entity, led by Workhorse founder Steve Burns, would acquire the facility. Workhorse would hold a minority interest in the new entity.
Upon final agreement with all parties, work could begin immediately to prepare the facility for new production.
GM also announced it is creating 450 new manufacturing jobs in Ohio at its facilities in Toledo, Moraine and Parma.
Manufacturing investments in Ohio totaling about $700 million will help expand GM's operations in Toledo, Parma and Moraine, the company said.
The company noted that DMAX plant in Moraine is expanding diesel engine production for GM's all-new heavy-duty pickups, which go on sale later this year. Toledo Transmission will expand production of the company's all-new 10-speed automatic transmission for trucks and SUVs.
The Parma Metal Center will expand production of stamped parts and deploy laser cell welding technology.