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Friday, 27 March 2020 16:33

GM Completes Purchase of Land for Battery-Cell Plant

Written by Ron Selak Jr., Tribune Chronicle

Index

General Motors has finalized the purchase of 158 acres in Lordstown, OH, for a $2.3 billion next-gen battery-cell plant.

The automaker plans heavily to rely upon this plant as it embarks on an all-electric vehicle future.

 

The $5.1 million deal for the Tod Avenue property, adjacent to GM’s former assembly plant, is with NP Lordstown 173 LLC, an affiliate of Kansas City-based North Point Development.

 

GM formerly owned the land, but rid itself of it, as well as dozens of other pieces of land across the U.S., as part of its 2009 bankruptcy.

 

NorthPoint acquired the the property in November 2014 from RACER, or Revitalizing Auto Communities Environmental Response Trust, which was assigned the task of overseeing the sale and redevelopment of the former GM properties.

 

NorthPoint planned to develop the property into an industrial park with a combination of industrial, warehouse and light manufacturing uses, but ultimately did not.

 

GM has applied for and is awaiting OKs on environmental permits from the U.S. Army Corps of Engineers and Ohio Environmental Protection Agency to build the 2.5 million-square-foot facility---large enough to contain 31 football fields.

 

The closing is “another step forward in making our vision a reality. While these are certainly challenging times, we continue moving forward on this important project,” GM spokesman Dan Flores said.

 

The sale closed March 23, according to the Trumbull County auditor’s office website. The property was among six GM considered in the region to build the plant.

 

GM is seeking the permits on behalf of GigaPower LLC, the working name for joint venture of GM and South Korea’s LG Chem to build the state-of-the-art plant.


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