LORDSTOWN — General Motors has signed a purchase agreement for 158 acres adjacent to its former assembly plant for a $2.3 billion battery-cell manufacturing facility the automaker wants to build with South Korea’s LG Chem. First reported on The Vindicator’s website, the deal announced Tuesday is with North Point Development near Kansas City, Mo., for the property on Tod Avenue, immediately east of what is now Lordstown Motors Corp. Finalization of the agreement and closing on the property is subject to “ongoing diligence” and includes securing building and other permits to start construction and operate the plant, according to GM, which has already submitted permit applications to the Ohio Environmental Protection Agency and U.S. Army Corps of Engineers. GM wants to close on the site by the end of March and begin initial site preparation sometime in the spring. Construction would include installation of utilities, extension of rail and road access and buildings. “This move gets us a step closer to making the state-of-the-art plant a reality and positioning the Mahoning Valley as a major force in technology and electric-vehicle manufacturing,” GM spokesman Dan Flores said. The facility will create more than 1,100 jobs and has been billed to be, when complete, among the largest battery-cell manufacturing facilities in the world.
Jan 15, 2020 Ron Selak Jr. Business reporter firstname.lastname@example.org