The acquisition of the former General Motors Lordstown plant by electric vehicle manufacturer Lordstown Motors and the launch of their Endurance pickup truck is part of the future of Ohio's automotive industry, White House Trade Adviser Peter Navarro told Fox Business Network's "Making Money with Charles Payne" Monday.
“We started out with trying to figure out what would fit in that footprint, what could we do?” Navarro explained. “And over the many months, two things happened, and it's really made a great future for the Mahoning Valley and Ohio.”
The first thing that happened, according to the trade adviser, was that GM and LG Chem joined forces in a $2 billion partnership to produce electric vehicle batteries. Then, Navarro added, GM vowed to put their “full expertise and financial might” into launching a product through Lordstown Motors.
The result, the 2021 Endurance, is “state of the art,” Navarro added, pointing out new features like wheel-based engines. According to Lordstown Motos, 40,000 units have already been pre-ordered.
Lordstown Motors CEO Steve Burns unveiled the Endurance at the White House Monday alongside President Trump, who Navarro said was a large proponent of the revival of the Lordstown plant.
“This was President Trump. This is what he does,” he said. “He sees a problem, says ‘fix it.’ We go to work and we get it fixed. And we love what happened today."