Trump's Budget Cuts Would Affect Loan for Lordstown Motors Corp.

Feb 11, 2020

Sen. Rob Portman says he supports a loan program that would help Lordstown Motors Corp. in its effort to build electric pickup trucks at the old General Motors Co. plant.

The Energy Department loan is known as the Advanced Technology Vehicles Manufacturing program. Lordstown Motors was seeking $200 million. But, President Donald Trump cut the loan program from his proposed 2021 budget.

Portman says that is not the final word.

“We’re looking for help to be able to ensure that we can get that plant up and going again, and I did support that," Portman said. "I will say that program has been in the budgets over time. In other words, (Trump) proposed in the past to cut it every year, and Congress has restored the funding. So, I continue to support the program, and we’ll see what happens.”

Lordstown Motors hopes to begin production of its electric pickup truck this fall.