A wheelchair-accessible van maker that received $50 million through the same Energy Department loan program that funded Fisker Automotive has shut its doors and laid off its employees.
The DOE froze the Vehicle Production Group’s loan after the company’s finances fell below the required level, former CEO John Walsh told USA Today. About 100 employees were laid off when VPG closed without fanfare in February, but the company has not filed for bankruptcy.
VPG used the advanced technology vehicles manufacturing loan to equip accessible vans with engines powered by compressed natural gas. Production of the MV-1 vans was supposed to create at least 900 jobs, and VPG expected to produce about 22,650 of the vans per year, according to the DOE’s November 2010 loan announcement.
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