Envirotech Vehicles Inc (EVTV)

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New York (CNN Business)General Motors is selling its Lordstown, Ohio, plant that it closed earlier this year to Workhorse, which plans to use it to build electric trucks.

The news was announced in a tweet by President Donald Trump, who hailed the decision.

"With all the car companies coming back, and much more, THE USA IS BOOMING!," he tweeted. He praised GM (GM) CEO Mary Barra, who he said informed him of the deal. Trump has been very critical of her and GM up until now.

He said Workhorse, an Ohio company that makes electric commercial vehicles, would be investing $700 million and hiring 450 workers at three locations in Ohio.

GM would not comment on the tweet and officials from Workhorse were not available for comment. But a source familiar with the transaction confirmed it accuracy.

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Again, the more electric truck mfg. the merrier.

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