Sick of winning yet? General Motors has announced they will invest $700 Million in Ohio and hire 450 workers, as they shuffle around manufacturing operations. They’ll be selling an idle plant to Workhorse Inc., a company that builds electric trucks, and reinvesting in plants in three other towns in Ohio.
Reuters reports:
Under pressure from President Donald Trump, General Motors Co said on Wednesday it was in talks to sell an idled northeast Ohio plant to a cash-strapped electric truck-building company.
The No. 1 U.S. automaker also said it would invest $700 million in three other plants in Ohio – a state important to Trump’s re-election chances in 2020 – and maintain some operations at a Canadian factory that had been slated to close by year end.
Workhorse and a newly formed entity, in which Workhorse holds a minority stake, would initially employ “hundreds” at the plant building a commercial electric pickup truck, Workhorse officials said. As recently as 2016, GM employed 4,500 people at the plant and in March cut the final 1,500 jobs when production of the slow-selling Chevrolet Cruze ended.
Of the 2,800 hourly employees affected by the plans to end production at the four U.S. plants, 1,350 have accepted transfers to other GM plants, the company said. At Lordstown, about half of those employed when production ended have transferred elsewhere.
GM also said on Wednesday it will invest $700 million and add 450 jobs at its Toledo, Parma and Moraine, Ohio, operations. “Great news for Ohio,” Trump tweeted.
“This potential agreement … will help solidify the leadership of Workhorse’s role in the EV community,” Workhorse CEO Duane Hughes said in the GM statement, referring to electric vehicles.
Workhorse shares jumped 190 percent to $2.45 on the news, while GM’s shares were almost unchanged, down 5 cents at $38.48 in late afternoon.
full story at https://www.thegatewaypundit.com/2019/05/more-winning-as-gm-announces-700-investment-in-ohio-hiring-450-workers/