Trump Budget Would Cut Loan Program for Vehicle Production Used by Tesla, Ford
WASHINGTON—President Donald Trump’s proposed budget would reportedly kill a loan program that assisted automakers such as Ford and Tesla in producing more environmentally friendly vehicles, including Tesla’s all-electric Model S.
The proposed cut, according to the 2021 budget proposal, is to the U.S. Energy Department’s Advanced Technology Vehicles Manufacturing Loan Program, which has distributed more than $8 billion in loans to companies to produce such vehicles, according to the program’s website.