Posted on 09/06/2013 11:38:20 AM PDT by george76
Humvee manufacturer AM General paid $3 million at auction to purchase the U.S. Department of Energys loan to Vehicle Production Group, a defunct maker of wheelchair-accessible vans that struggled to meet performance targets and shut down earlier this year.
Together with $5 million seized from the companys accounts in April, that means the DOE recovered just $8 million of the $50 million it loaned VPG back in March 2011 under a government program designed to promote advanced technology vehicles. VPGs plan was to sell handicapped vans that run on compressed natural gas.
Taxpayers also took a loss on the collapse of Fisker Automotive, which was awarded $529 million under the Advanced Technology Vehicles Manufacturing program, but received only $193 million before the DOE cut them off for failing to meet performance targets.
(Excerpt) Read more at forbes.com ...
It may not have been a total loss.
Perhaps some Democratic politicians got some campaign contributions from some company employees.
Just where are those gas tanks going to go in those vehicles with a lowered interior floor?
“..Perhaps some Democratic politicians got some campaign contributions from some company employees...”
:::::::::::::::
Perhaps??? It has been the purpose of every one of the GREEN SCAMS -— money from the phony companies and keeping the Enviro-Whackos’ money flowing to the RATS.
Haha . . . I hear you . . . I was just being a tad sarcastic.
No chance that would be dangerous in a rear-end collision./sarc.
Those tanks don’t rupture easy from outside pressure. They are typically fiber-composites similar to medical oxygen and scuba tanks. They are designed to withstand ~4,000 psi with a significant safety factor.
So thst’s what the dang silly vehicle is my brother in law have seen! Looks like a piece of poo and now I see it is. Was.. whatever.
They are still selling the gasoline versions.
There are two of them where I live. Both seem to be used to ferry people from the projects to the save-a-lot.
The here have cng or nat gas markings or something like that.
Yes, the CNG has been an option with ~290 mile range.
http://www.vpgautos.com/experience-mv-1/about/
bump
Only 193 million.
How is it possible in the english language to write with credibility the words 'only 193 million'?
First I heard of them. If I am reading it correctly, they haven’t built a plant yet.
I didn't see one either, but it sounds like a well-positioned (nudge, nudge) technology given the likelihood of fracking producing an overshoot in production capacity of natural gas. They're implying that Buffet may involved, but it could be hype.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.