Sign change ushers in new era at Lordstown plant
On the same day, two state senators laid out their case for helping make electric vehicles more affordable for consumers, another sign of the Valley's electric future went up in Lordstown.
The sign that had previously read General Motors at the plant on Hallock-Young Road now officially bears the name of the upstart electric vehicle company that has purchased the plant, the Lordstown Motors Company.
The sign went up Tuesday morning, marking the new era for the plant, which had previously made GM vehicles for more than 50 years.
The Lordstown Motors Company purchased the plant from GM for $20 million, which was obtained, along with an additional $20 million, in financing from the automaker itself.
The company plans to begin manufacturing electric pickup trucks at the Lordstown facility starting in 2020.
Earlier on Tuesday, the company's CEO, Steve Burns, stood alongside state senators Michael Rulli and Sean O'Brien to announce a bill that would provide tax incentives to purchase electric vehicles, as well as to build charging stations around the state.
Under the proposed legislation, anyone buying an electric vehicle for personal use would receive a $500 tax credit and a $1,000 tax credit for commercial purchases of up to ten electric vehicles. The bill also includes a $1,500 credit to build charging stations.
One of the major hurdles to the electric vehicle market is the cost, which can run upwards of $50,000 per vehicle in some cases, as well as the absence of charging stations.