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Story Archives: Landrieu leans on Energy for Next Autoworks loan
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Landrieu leans on Energy for Next Autoworks loan
U.S. Sen. Mary Landrieu pressed Department of Energy officials last week to sign off on a $321 million loan for the startup automobile company Next Autoworks.
During a meeting last week with the Senate Energy and Natural Resource Committee, Landrieu requested DOE approve Next Autoworks' loan application under the Advanced Technology Vehicle Manufacturing program.
Landrieu discussed the loan application with Jonathan Silver, DOE's executive director of its loan program office, and probed for updates on the program's issuance of loan guarantees.
"I think that we need to not only have this program supporting companies that have long been in this industry but emerging companies that have real potential to create more competition around the country," Landrieu said. "We've had a 2 ½ year application before the agency for a company trying to emerge out of Louisiana. The South is emerging as quite a powerhouse in the automobile industry and we'd like to make sure that remains."
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