GM loans $40 million to firm to acquire, retool shuttered Lordstown, Ohio, factory

By David Shepardson WASHINGTON (Reuters) - General Motors Co confirmed on Monday it agreed to loan $40 million (31.2 million pounds) to an electric vehicle start-up to facilitate the acquisition of its shuttered Lordstown Assembly plant in Ohio. Lordstown Motors Corp, which is 10% owned by Workhorse Group Inc, bought the plant and equipment for $20 million in November as part of its ambitious plan to begin building electric pickup trucks by the end of 2020. The loan agreement, which was reported earlier Monday by the Business Journal in Youngstown, was filed in Trumbull County last week

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