Jump to content
Drew Dowdell

GM News: GM Selling Lordstown to Electric Truck Maker Workhorse

Recommended Posts

In a series of tweets today, Trump announced that General Motors will be selling their Lordstown plant to electric truck maker Workhorse.  Lordstown was shut down in March of this year and formerly built the Chevrolet Cruze.  The details of the plant sale have not yet been announced.

Workhorse is a Cincinnati based company who builds EV pickups with a built in range extender, similar in concept to the Chevrolet Volt.  Workhorse's sole model is the W-15, capable of driving up to 80 miles on a charge before a gasoline powered range extender kicks in. It uses two motors to provide all-wheel drive. The only configuration available is an extended cab with 6.5 foot bed. They can tow up to 5,000 lbs and have a payload of 2,200 lbs.  Pricing starts at $54,500 before tax credits. 

Workhorse intends to start production for the retail market sometime in 2019.  Fleet orders have already started. 

GM is not denying any of the information in the tweets from Trump. 

Update: General Motors has confirmed that talks are ongoing.


View full article

Share this post


Link to post
Share on other sites

This is good news, Always liked the idea of the Workhorse, but the front reminds me of a weird cross breeding between Ford with the headlights and the Ugly Honda pickup. Very weird style.

I would take a Rivian over this, but this is also interesting, wonder how they will sell retail and where would one go much like Rivian to check it out and see if I fit inside. 🤔

Share this post


Link to post
Share on other sites

I don't know how Workhorse, which has been losing lots of money, is going to afford to buy the plant much less keep the lights on.  Lordstown was greatly underutilized when they were building ~250k Cruzes a year there.  How many trucks can Workhorse think they're going to sell with no dealer network.... even at that price.  

  • Upvote 4

Share this post


Link to post
Share on other sites
18 minutes ago, Drew Dowdell said:

I don't know how Workhorse, which has been losing lots of money, is going to afford to buy the plant much less keep the lights on.  Lordstown was greatly underutilized when they were building ~250k Cruzes a year there.  How many trucks can Workhorse think they're going to sell with no dealer network.... even at that price.  

Nothing good will come of any of this. That plant has a better chance of reverting to wilderness than building more cars.

Share this post


Link to post
Share on other sites
7 minutes ago, A Horse With No Name said:

Nothing good will come of any of this. That plant has a better chance of reverting to wilderness than building more cars.

I won't be surprised when I have to write the article "Talks between Workhorse and GM fell through after Workhorse was unable to obtain financing...."

Share this post


Link to post
Share on other sites
2 hours ago, Drew Dowdell said:

IWorkhorse is a Cincinnati based company who builds EV pickups….

 

'builds'… or 'is planning to build'?

Share this post


Link to post
Share on other sites
Posted (edited)

I wonder if GM will sell the plant to Workhorse for $1.  I read that Workhorse had $736k in revenue last year, and only $38 mil in losses, or something like that..market value of $109 mil.

Saw that they were a penny stock, had a big surge today.

https://www.cnbc.com/2019/05/08/trump-tweet-sends-penny-stock-workhorse-surging-by-more-than-50percent-crashes-website.html

Smoke and mirrors?

 

GM clarified they are in talks..nothing concrete announced yet.

Edited by Robert Hall
  • Thanks 1

Share this post


Link to post
Share on other sites
4 hours ago, Drew Dowdell said:

I won't be surprised when I have to write the article "Talks between Workhorse and GM fell through after Workhorse was unable to obtain financing...."

Well...both Cincinnati and Cleveland have lots of established Mafia. Financing is available...but not even sure the Mafia would take this bet.

No more vehicles than they will sell they probably could move production to the guard shack.

4 hours ago, balthazar said:

'builds'… or 'is planning to build'?

Builds in a tangential alternative reality...

3 hours ago, Robert Hall said:

I wonder if GM will sell the plant to Workhorse for $1.  I read that Workhorse had $736k in revenue last year, and only $38 mil in losses, or something like that..market value of $109 mil.

Saw that they were a penny stock, had a big surge today.

https://www.cnbc.com/2019/05/08/trump-tweet-sends-penny-stock-workhorse-surging-by-more-than-50percent-crashes-website.html

Smoke and mirrors?

 

GM clarified they are in talks..nothing concrete announced yet.

It will get re developed into low income housing. So much winning....

  • Upvote 1

Share this post


Link to post
Share on other sites
Posted (edited)

Before the electric truck, they built step vans (former GM model) going back to '98, and RV chassis, apparently Navistar owned them or part of them at one time.

5aeba10325e69f444d370924.jpg

Edited by Robert Hall
  • Thanks 1

Share this post


Link to post
Share on other sites

Interesting...

Share this post


Link to post
Share on other sites
16 hours ago, Drew Dowdell said:

I don't know how Workhorse, which has been losing lots of money, is going to afford to buy the plant much less keep the lights on.  Lordstown was greatly underutilized when they were building ~250k Cruzes a year there.  How many trucks can Workhorse think they're going to sell with no dealer network.... even at that price.  

Well, unless they come out with a lineup of stuff this would be a major fail.....

Share this post


Link to post
Share on other sites

The truck itself sounds like a great truck for local municipalities. 

Good to hear a factory isn't going to be left alone. We have one local that was a Chrysler plant that has been empty for about a decade now in Fenton, MO. It's also good to hear that, I assume, the company is taking off to the point of needing larger production capacity. 

Share this post


Link to post
Share on other sites

@Drew Dowdell @Robert Hall @A Horse With No Name @balthazar

Seems the Union is not going to let this happen, they want GM to give them a auto to build. Seems GM is tied up with the UAW for a while and Workhorse will have to take over the union contracts if they buy the plant. 

I do not see that happening. Good read at Bloomberg.

https://www.bloomberg.com/news/articles/2019-05-08/trump-gm-reaction

  • Thanks 1

Share this post


Link to post
Share on other sites
21 hours ago, Drew Dowdell said:

I don't know how Workhorse, which has been losing lots of money, is going to afford to buy the plant much less keep the lights on.  Lordstown was greatly underutilized when they were building ~250k Cruzes a year there.  How many trucks can Workhorse think they're going to sell with no dealer network.... even at that price.  

That is a big factory having driven past it many times, it can probably produce 500k units per year if it was running at full capacity.  I don’t see how Workhorse would sell that many vehicles, even if they add a van to the mix with the pickup.

That isn’t a good looking truck, it has a low EV range and a high price.  If they make that truck $34,000 before tax credits, game on.

Share this post


Link to post
Share on other sites
20 hours ago, Robert Hall said:

I wonder if GM will sell the plant to Workhorse for $1.  I read that Workhorse had $736k in revenue last year, and only $38 mil in losses, or something like that..market value of $109 mil.

Saw that they were a penny stock, had a big surge today.

https://www.cnbc.com/2019/05/08/trump-tweet-sends-penny-stock-workhorse-surging-by-more-than-50percent-crashes-website.html

Smoke and mirrors?

 

GM clarified they are in talks..nothing concrete announced yet.

GM probably would sell it for $1.  The building anyway, GM May want the equipment inside of it.  But the maintenance, upkeep, security, utilities  and property tax bill on Lordstown has to be huge.  They are probably spending a million dollars a month just to hold on to it, which granted isn’t a lot by GM standards but still I am sure they want to off load it fast.

  • Upvote 2

Share this post


Link to post
Share on other sites

The Workhorse needs a full crew cab option to become viable to the masses. If they did that they could become a player outside of fleet buyers. And weren't these supposed to be able to the public a long time ago. I see it like VIA, lot of empty promises. 

 

For good or bad at least Tesla has things you can actually go and buy. 

  • Upvote 3

Share this post


Link to post
Share on other sites
2 hours ago, dfelt said:

@Drew Dowdell @Robert Hall @A Horse With No Name @balthazar

Seems the Union is not going to let this happen, they want GM to give them a auto to build. Seems GM is tied up with the UAW for a while and Workhorse will have to take over the union contracts if they buy the plant. 

I do not see that happening. Good read at Bloomberg.

https://www.bloomberg.com/news/articles/2019-05-08/trump-gm-reaction

Given Ohio's obesity rate, maybe converting it into the worlds largest food court makes more sense. The food workers union is easier to work with than the UAW, or so I am told. 

1 hour ago, smk4565 said:

GM probably would sell it for $1.  The building anyway, GM May want the equipment inside of it.  But the maintenance, upkeep, security, utilities  and property tax bill on Lordstown has to be huge.  They are probably spending a million dollars a month just to hold on to it, which granted isn’t a lot by GM standards but still I am sure they want to off load it fast.

The liability politically and with the unions is greater than a million a month. 

 

  • Haha 2

Share this post


Link to post
Share on other sites

I do hope that GM makes the sale.  The new guys can tell the UAW to shove it.

  • Like 1

Share this post


Link to post
Share on other sites
2 hours ago, riviera74 said:

I do hope that GM makes the sale.  The new guys can tell the UAW to shove it.

Again...would not matter if it was oompah loompas from Charlie and the Chocolate factory or UAW members...that plant has produced its last vehicle.

Share this post


Link to post
Share on other sites

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.




  • Social Stream

  • Similar Content

    • By Drew Dowdell
      A rumor has been leaked that the next generation of Toyota Tundra, coming in 2021, would have a twin-turbo V6 combined with an electric motor for its top trim trucks.  The tipster posted to TFLtruck.com saying that the new motor would be based on the existing 3.5-liter turbocharged V6 found in the Lexus LS and LC 500h.  It would have around 450 hp and 500 lb-ft of torque and able to achieve over 30 mpg highway. 
      In the Lexi, the engine produces 354 hp and 369 lb-ft of torque and manages 33 mpg highways.  Our suspicion is that Toyota is making up the deficit by filling the bigger Tundra with bigger electric motors and adding an expected 10-speed automatic, up from the current 6-speed.
      Currently, the Tundra uses two V8s for its powertrain, a 4.6 liter making 310hp and 327 lb-ft of torque and a 5.7 liter making 381hp and 401 lb-ft of torque. Neither engine gets better than 20 mpg currently. 
      The next generation Toyota Tundra will be using an all-new platform dubbed F1 and will likely remain in Texas for production.

      View full article
    • By Drew Dowdell
      A rumor has been leaked that the next generation of Toyota Tundra, coming in 2021, would have a twin-turbo V6 combined with an electric motor for its top trim trucks.  The tipster posted to TFLtruck.com saying that the new motor would be based on the existing 3.5-liter turbocharged V6 found in the Lexus LS and LC 500h.  It would have around 450 hp and 500 lb-ft of torque and able to achieve over 30 mpg highway. 
      In the Lexi, the engine produces 354 hp and 369 lb-ft of torque and manages 33 mpg highways.  Our suspicion is that Toyota is making up the deficit by filling the bigger Tundra with bigger electric motors and adding an expected 10-speed automatic, up from the current 6-speed.
      Currently, the Tundra uses two V8s for its powertrain, a 4.6 liter making 310hp and 327 lb-ft of torque and a 5.7 liter making 381hp and 401 lb-ft of torque. Neither engine gets better than 20 mpg currently. 
      The next generation Toyota Tundra will be using an all-new platform dubbed F1 and will likely remain in Texas for production.
    • By Drew Dowdell
      General Motors and Bechtel are teaming up to form a new company to deploy a widespread fast-charging network. Neither company plans to put any money into the project, outside investors are being solicited.  The network will help General Motors, which plans to introduce 20 new EVs by 2023.  It will also help other manufacturers of EVs. 
      General Motors will provide data to help decide where to locate the EV charging stations and Bechtel will use its own experts for the engineering and building of the stations. Much of the data will come from GM's OnStar system to help learn where people tend to park.  Data from both electric and gasoline powered vehicles will be used.
      Additional fast-charging infrastructure is seen as a requirement to increasing electric vehicle sales. According to a survey by AAA, one of the biggest concerns Americans have about EVs is having enough locations to charge them.  
      The network built by Bechtel and GM will not be limited to interstate highways where most fast charging stations have been located so far.  The company will also locate chargers in urban areas targeting apartments and condos where drivers cannot have a home charger of their own. 
      The new venture joins major initiatives from Electrify America, a Volkswagen funded EV station program, and Tesla with Supercharging, to build out a nationwide network of charging stations. 

      View full article
    • By Drew Dowdell
      General Motors and Bechtel are teaming up to form a new company to deploy a widespread fast-charging network. Neither company plans to put any money into the project, outside investors are being solicited.  The network will help General Motors, which plans to introduce 20 new EVs by 2023.  It will also help other manufacturers of EVs. 
      General Motors will provide data to help decide where to locate the EV charging stations and Bechtel will use its own experts for the engineering and building of the stations. Much of the data will come from GM's OnStar system to help learn where people tend to park.  Data from both electric and gasoline powered vehicles will be used.
      Additional fast-charging infrastructure is seen as a requirement to increasing electric vehicle sales. According to a survey by AAA, one of the biggest concerns Americans have about EVs is having enough locations to charge them.  
      The network built by Bechtel and GM will not be limited to interstate highways where most fast charging stations have been located so far.  The company will also locate chargers in urban areas targeting apartments and condos where drivers cannot have a home charger of their own. 
      The new venture joins major initiatives from Electrify America, a Volkswagen funded EV station program, and Tesla with Supercharging, to build out a nationwide network of charging stations. 
  • My Clubs

  • Reader Rides

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets

facebook

×
×
  • Create New...