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