The American economy under President Trump is doing better than ever. General Motors recently announced that they are planning to invest $700 million into the great state of Ohio as well as hiring 450 more workers. A big win for the state of Ohio and a big win for the American people.According to the Gateway Pundit, 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.”
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.
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.
President Trump made sure to tout the good news in a tweet on Wednesday.
“GREAT NEWS FOR OHIO! Just spoke to Mary Barra, CEO of General Motors, who informed me that, subject to a UAW agreement etc.,” the President started.
“GM will be selling their beautiful Lordstown Plant to Workhorse, where they plan to build Electric Trucks. GM will also be spending $700,000,000 in Ohio in 3 separate locations, creating another 450 jobs,” he continued. “I have been working nicely with GM to get this done. Thank you to Mary B, your GREAT Governor, and Senator Rob Portman. With all the car companies coming back, and much more, THE USA IS BOOMING!”
….in 3 separate locations, creating another 450 jobs. I have been working nicely with GM to get this done. Thank you to Mary B, your GREAT Governor, and Senator Rob Portman. With all the car companies coming back, and much more, THE USA IS BOOMING!
— Donald J. Trump (@realDonaldTrump) 8 мая 2019 г.
sure seem to be paying off. By incentivizing companies to invest their time and resources into America, President Trump is not only improving the American economy, but he is also improving the lives of the American people.