SOUTHFIELD, MICHIGAN – General Motors Co. loaned the buyer of its half-century-old assembly plant in Ohio $40 million to help the cash-strapped startup roll out an electric pickup truck.
The transaction to support Lordstown Motors Corp. and its debut model, called Endurance, is essentially a mortgage, Jim Cain, a GM spokesman, said by email. He declined to give the terms of the loan.
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KEYWORDS
U.S.,
Jobs,
carmakers,
unions,
GM,
Ohio,
endurance,
Donald Trump,
EV,
UAW,
lordstown,
lordstown motors
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