General Motors loans $40 million to electric car company

Business

OHIO (WSYR-TV) — General Motors is loaning $40 million to an electric car company so it can take over a shuttered GM factory in Ohio.

The deal will allow start-up Lordstown Motors to re-tool the old factory for production of electric pickup trucks. Lordstown Motors hopes to have the first trucks roll off the assembly line by the end of 2020.

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