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A sign outside the GM Lordstown plant. Photo: Jeff Swensen/Getty Images

A plan from Workhorse, a little-known electric vehicle company, to launch production at the shuttered GM plant in Lordstown, Ohio is hardly a sure thing, the New York Times reports.

Why it matters: The plan, announced in early May with few details, is bound up in the politics of GM's controversial restructuring and layoffs. President Trump raised the deal's profile by tweeting about it, getting ahead of GM's disclosure of plans to sell the plant to an entity that includes Workhorse as a minority owner.

But, but, but: Via NYT, "The new venture, whose name remains secret, exists almost entirely on paper. Headed by the founder and former chief executive of Workhorse, Steve Burns, the business would have to raise at least $300 million to get Lordstown running again."

The intrigue: Burns declined to tell NYT whether he's raised money. Workhorse, meanwhile, is "barely hanging on" and had less than $3 million in cash at the end of March, the paper reports.

  • The 12-year-old company has actually built vehicles — just 365 — the Times said, noting "most of the Workhorse trucks made so far are in use at UPS."

Meanwhile: "General Motors, America's largest automaker, and Bechtel, the country's largest construction company, are teaming up to build thousands of electric vehicle fast-charging stations across the United States," CNN reports.

  • Wider fast-charging deployment is important in building consumers' confidence in EVs, which are now a tiny slice of the market.

Go deeper: GM confirms talks to sell Lordstown plant to Workhorse

Go deeper

2 hours ago - Politics & Policy

Manchin's massive means test

Illustration: Aïda Amer/Axios

Sen. Joe Manchin (D-W.Va.) is offering progressives a trade: He'll vote for their cherished social programs if they accept strict income caps for the recipients, people familiar with the matter tell Axios.

Why it matters: Manchin’s plan to use so-called means-testing for everything from paid family medical leave to elder and disabled care would drastically shrink the size and scope of the programs. It also would bring a key moderate vote to the progressive cause.

The China whisperer

Nick Burns. Photo: Chen Mengtong/China News Service via Getty Images

President Biden's nominee for ambassador to China will face aggressive questioning Wednesday about the most important, and potentially perilous, bilateral relationship in the world.

Why it matters: While Nick Burns is an experienced diplomat with support on both sides of the aisle, lawmakers want to use his confirmation hearing to force the administration into some tough positions on China.

Jan. 6 committee recommends contempt charges against Bannon

Steve Bannon. Photo: Stephanie Keith/Getty Images

The House select committee investigating the deadly Jan. 6 Capitol riots unanimously approved a resolution Tuesday night recommending that former Trump aide Steve Bannon be held in contempt of Congress for refusing to comply with a subpoena.

Why it matters: The resolution sets up a House vote to refer Bannon for potential criminal prosecution, signaling that the committee will not tolerate attempts by former President Trump and his associates to stymie the investigation.