Another company out of the running for Obama’s ‘green car’ program
Source: Wash. Post
One of the handful of remaining contenders to win the Obama administration’s funding to build “green” cars is out of the running.
Carbon Motors announced Wednesday afternoon that the Department of Energy has turned down the company’s application for a $335 million loan to build fuel-efficient police vehicles in a Indiana town hard-hit by unemployment. The news comes 30 months after the company first applied under a special green car loan program.
Carbon Motors officials said they had been assured their application to build a new plant, and create an estimated 1,500 jobs, was nearing approval.
ahh.. going to triple check the next 500 million...
Carbon Motors officials blame the department’s decision to turn its project down — and failure to approve any recent loans — on skittishness in the wake of the failure of Solyndra. The now-shuttered solar firm won a $535 million federal loan in the first two months of the Obama administration despite staff concerns about a rushed process and the company’s questionable financial prospects