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GM finalizes sale of Lordstown plant to Workhorse-affiliated EV builder
Well, what do you know! It appears the historic Lordstown deal is going to happen after all. Lordstown Motors (LMC) has formally announced its acquisition of the former GM manufacturing complex in Lordstown, Ohio. LMC, a spin-off of Workhorse Group (NASDAQ: WKHS), plans to begin production of an electric pickup at the Lordstown plant starting in late 2020.
EV fans have been excited about the deal from the beginning, but also more than a little skeptical, because of the bizarre way in which the plan was first announced, and because of doubts that a small startup company would be able to muster the financial resources to take over such a large manufacturing plant. Now it’s plain that the deal will go forward, although significant aspects remain unclear.
Read more at chargedevs.com