Electromobile Startup Acquires Factory from General MotorsNovember 10, 2019
Automobile manufacturer General Motors has closed its company in Lordstown, located in a suburb of Warren, Ohio. However, some factory workers will be able to find a job with the new owner of the building – Lordstown Motors.
Pickups are in great demand in the US, so many startups are betting on this: Rivian, Atlis, Neuron EV and Lordstown Motors. The company was founded by Steve Burns, the former head of Workhorse, which produces hybrid pickups based on the Chevrolet Silverado and currently owns a 10% stake in Lordstown Motors. Not so long ago, Rich Schmidt, who previously worked at Tesla, joined Lordstown as Production Director. In addition to him, other experienced specialists from the auto industry came.
By the end of next year, Lordstown Motors intends to start production of its electric pickups at General Motors facilities. At the moment there are only model sketches. It is known that the range of the truck is about 400 km, and some engineering solutions will be borrowed from the Workhorse W-15 pickup truck.
Steve Burns is actively seeking financing for the development of a startup, as well as the re-equipment of a new company purchased from GM. The purchase price of the plant is not reported. The company plans in November to switch to regular production of cars, for which it will need to hire 400 workers. Former GM employees will be a priority.
At the same time, General Motors Corporation itself plans to build a modern enterprise next to its former plant for the production of batteries for electric cars. It is reported that the plant will have 1,000 employees. An active buyer of their batteries may be Lordstown Motors.
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