Lordstown Motors seeks $200 million federal loan to develop more fuel efficient vehicles

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“I think we got to shoot for the stars here. There’s going to be a plant somewhere in the United States and probably many of them that have thousands of workers producing electric trucks. We want it to be here.” 

-Rep. Tim Ryan

Youngstown, Ohio Congressman Tim Ryan has led “a bipartisan group of 10 U.S. senators and representatives from Ohio urging the U.S. Department of Energy” to approve a loan application requesting federal dollars to retool the Lordstown plant to build electric vehicles.

The $200 million Ryan confirmed Thursday also would leverage private sector financing for investment into the company that wants to begin production of the Endurance truck by the end of the year.

“This is part of what public / private partnerships are about. The government has to play a positive, impactful role to make this happen and help the risk taker who is putting all the money in.”

Rep. Tim Ryan –The Vindicator:

More than $300 million is needed to get the operation started and the loan is crucial in that process.

The overall goal is to create thousands of jobs at the former GM Lordstown plant.

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Ms. G

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