I thought GM sold the plant for $20 million, but also loaned $40 million to Lordstown. If they go under GM is out $20 million.Originally GM sold it for $20mil to Lordstown Motors. That was later forgiven in exchange for 4.5% (7.5mil shares) of the company. So if it goes under, GM got nothing for it. Net loss, ZERO profit.
GM Loans Ohio Plant Buyer $40 Million to Launch Electric Truck
Lordstown Motor Corp., which purchased GM's Lordstown plant last month, received a $40 million loan, enough to cover the sale as well as some of the plant's startup costs.