After about ten years of planning, English car manufacturer London EV has changed its mind about building a $175 million plant in Hazelwood. St. Louis television station KSDK reports the factory was expected to bring in hundreds of jobs and $200 million in investments – a major boost to the community that took a big hit by the loss of a longtime Ford manufacturing plant.
The company thanked the city for its warm hospitality and says the situation is not the outcome it wanted.
According to KSDK, London EV has paid back all of the money, plus interest, that it owes to the city from a loan agreement. The amount totaled more than $4 million.
The state said it has received its economic development loan payment from the company for more than $2 million.
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