GM lending $40M to startup company buying closed Ohio plant

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General Motors agrees to loan $40 million to a newly formed company that wants to make electric pickup trucks at a massive Ohio assembly plant GM shut down earlier this year.

The agreement between the two companies also would allow GM to buy back the plant up until next May, documents filed last week show. The amount available would be more than enough to cover the $20 million price tag for the plant.

The new company wants to begin making electric trucks by late 2020, but it also said that it still needs more investors before manufacturing can begin. GM spokesman Jim Cain said the company wants to help Lordstown Motors stick to its launch schedule and that the company does not expect it would buy the plant back, nor is it an investor in Lordstown Motors.The loan agreement, first reported by the The Business Journal in Youngstown, also would give GM the chance to lease land next to the Lordstown plant.

 

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What is this thing with pickup trucks? Make a useful car with four doors, something for a family.

And it comes back to andy and I not you not marshall not any one like it your rights to our money our children are not valid coz you have no rights now all our children are sexually abused and been raped and seen and been through things they should bever have to ever

That’s like a CEO’s annual bonus

Well excuse me the money is not yours to lend out not yours to buy 15 million $ mansions with and say I did it for you me to live in while I live in a proxy little rental and have not seen a red cent you don't have nothing over me your not my accountant your a thief all of you

What Would those be the dreaded green jobs?

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