April 19, 2024 10:38 am
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Trump budget cuts loan program sought by Lucid Motors

By Kevin Reagan | Pinal Central

A federal loan program that could assist Lucid Motors in building its electric car assembly plant in Casa Grande is not included in President Donald Trump’s proposed budget.

The California-based company is pursuing a loan from the U.S. Energy Department’s Advanced Technology Vehicles Manufacturing program to develop a $700 million production facility, according to The Washington Post.

The federal program has disbursed billion-dollar loans to car companies like Ford and Nissan to implement fuel-efficient technology, and Lucid is applying to be another recipient.

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