{"id":471657,"date":"2010-03-25T14:25:30","date_gmt":"2010-03-25T18:25:30","guid":{"rendered":"http:\/\/www.xconomy.com\/?p=70352"},"modified":"2010-03-25T14:25:30","modified_gmt":"2010-03-25T18:25:30","slug":"startup-automaker-v-vehicle-hits-roadblock-after-government-rejects-321m-loan-request","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/471657","title":{"rendered":"Startup Automaker V-Vehicle Hits Roadblock After Government Rejects $321M Loan Request"},"content":{"rendered":"\n
cleantech<\/a>, Financing<\/a>, Venture Capital<\/a><\/div>\n

\t\t\"frank-varasano\"<\/a>
\n\t\tBruce V. Bigelow wrote:<\/strong><\/p>\n

Plans by the famed Kleiner Perkins VC firm, Google, T. Boone Pickens, and other investors to launch a new automaker are now hanging by a thread.<\/p>\n

The Department of Energy has rebuffed San Diego-based V-Vehicle’s request for more than $321 million in loans—throwing into jeopardy the automaker’s ambitious plans to build an “environmentally friendly” car. When V-Vehicle’s founders and investors announced the company’s plans last June in Monroe, LA, Louisiana economic development officials proclaimed in a press release “New American Car Company Will Make History in Louisiana.”<\/p>\n

The Associated Press and other news outlets are reporting<\/a> the DOE turned aside a $241.2 million loan request to revamp an idle headlight plant in northeastern Louisiana and a related $79.9 million loan to coordinate engineering with V-Vehicle’s suppliers. Today, state and federal officials say they’re trying to find out why<\/a>.<\/p>\n

In a statement released yesterday, V-Vehicle says work began last year in Monroe, LA, under $133 million of state tax credits and incentives, where were targeted for completion in the fall of next year.\u00a0 The company says its first production prototype of the V Car is in testing, and national sales were projected to begin late next in 2011.<\/p>\n

In its statement yesterday, V-Vehicle also revealed more than it previously has about why its vehicle would be “environmentally friendly,” saying, “The V Car’s miles-per-gallon would be among the best of all four-passenger gasoline-powered vehicles sold in …Next Page »<\/a><\/span><\/p>\n

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cleantech, Financing, Venture Capital Bruce V. Bigelow wrote: Plans by the famed Kleiner Perkins VC firm, Google, T. Boone Pickens, and other investors to launch a new automaker are now hanging by a thread. The Department of Energy has rebuffed San Diego-based V-Vehicle’s request for more than $321 million in loans—throwing into jeopardy the automaker’s […]<\/p>\n","protected":false},"author":5423,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-471657","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/471657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/5423"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=471657"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/471657\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=471657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=471657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=471657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}