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GM in discussions with Cincinnati-based Workhorse Group to sell its Lordstown, Ohio, complex

; Date: May 5, 2019

Tags: Workhorse Motors »»»» General Motors »»»» Electric Vehicles

DETROIT — General Motors Co. (NYSE: GM) said today it is in discussions with Workhorse Group Inc. (NASDAQ: WKHS) and an affiliated, newly formed entity 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.

“This potential agreement creates a positive outcome for all parties involved and will help solidify the leadership of Workhorse’s role in the EV community,” said Workhorse CEO Duane Hughes.

Burns added, “The first vehicle we would plan to build if we were to purchase the Lordstown Complex would be a commercial electric pickup, blending Workhorse’s technology with Lordstown’s manufacturing expertise.”

Since last November, GM has been in discussions with the UAW regarding the impact of changing market conditions on the Lordstown facility. These discussions will include this opportunity.

“We remain committed to growing manufacturing jobs in the U.S., including in Ohio, and we see this development as a potential win-win for everyone,” said Mary Barra, GM chairman and CEO. “Workhorse has innovative technologies that could help preserve Lordstown’s more than 50-year tradition of vehicle assembly work.”

Upon final agreement with all parties, work could begin immediately to prepare the facility for new production.

Today, GM also announced it is creating 450 new manufacturing jobs in Ohio at its facilities in Toledo, Moraine and Parma. (see below)

Workhorse Group Inc. (NASDAQ:WKHS) is a technology company focused on providing electric mobility solutions to the transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. Workhorse also develops cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information visit workhorse.com.

General Motors (NYSE:GM) is committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Cadillac, Chevrolet, Baojun, Buick, GMC, Holden and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, Maven, its personal mobility brand, and Cruise, its autonomous vehicle company, can be found at http://www.gm.com.

GM Announces New Manufacturing Jobs Coming to Ohio

DETROIT — General Motors Co. (NYSE: GM) announced today that it is creating more than 450 manufacturing jobs in three Ohio cities. GM also said it is in discussions with an Ohio-based company that could bring significant production and electric vehicle assembly jobs to the Lordstown Complex.

“The U.S. economy and our core business are strong, so we can expand our commitment to U.S. manufacturing and Ohio and create job opportunities for our employees,” said GM Chairman and CEO Mary Barra. “We also expect to bring more jobs to the U.S. over time in support of the expected provisions of the USMCA.”

Manufacturing investments in Ohio totaling approximately $700 million will help expand GM’s operations in Toledo, Parma and Moraine and create approximately 450 new manufacturing jobs.

  • The 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.

Hourly employees from GM plants may request a transfer to other UAW-represented sites as jobs are created. More than 1,350 employees from GM’s unallocated plants, including Lordstown, have already accepted transfers.

GM’s discussions to sell the company’s Lordstown Complex in Lordstown, Ohio, to Workhorse Group, Inc. and an affiliated, newly formed entity that could bring significant production and electric vehicle assembly jobs to the Mahoning Valley. Workhorse is a Cincinnati-based manufacturer of battery electric vehicles.

Summary of GM Job Creation Announcements in 2019

Including today’s Ohio news, GM has announced the creation of more than 2,000 new jobs so far in 2019:

  • 450 new jobs at GM sites in Ohio: Toledo, Parma and Moraine.
  • 1,000 new jobs at Flint Assembly to support production of the 2020 Chevrolet Silverado HD and GMC Sierra HD pickups, which launch in the second half of 2019.
  • 400 new jobs to support the launch of a second Chevrolet battery-electric vehicle at Orion Assembly in Orion Township, Michigan.
  • 400 jobs coming later this year to support a second production shift at Bowling Green Assembly in Bowling Green, Kentucky.

General Motors (NYSE:GM) is committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Cadillac, Chevrolet, Baojun, Buick, GMC, Holden and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, Maven, its personal mobility brand, and Cruise, its autonomous vehicle company, can be found at http://www.gm.com.

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