YOUNGSTOWN, Ohio (WKBN) – Former Valley Congressman Tim Ryan was back in the Valley Monday.
He was in Trumbull County for the launch of a new drone education program but also talked with First News about how he has been watching as Lordstown Motors declared bankruptcy. He said it is heartbreaking because the Valley had such hope for it leading the electric revolution.
Lordstown Motors is going through bankruptcy and seeing if it can find a buyer. A bankruptcy judge has set a final sales hearing for October on the matter. By then, we’ll know if anyone is interested in trying to take over and see the Endurance reach full production.
Ryan admits it has been tough to see Lordstown Motors slide.
“You gotta take risks, and you gotta have the stomach to ride it out. You look at how many internet companies never made it. They went bust, but the internet thrived, and many companies benefited from it. You look at the steel industry. We ended up with U.S. Steel and all the benefits, but there were a lot of steel companies that didn’t make it along the way. You hope that one of these seeds we planted blossoms,” Ryan said.
But Ryan remains positive about Foxconn and Ultium, believing they will play a big role in helping the Valley be a big part of the move to electric vehicles.
