MONROE, La. — Startup automaker V-Vehicle Co. says it has renewed its lease for a vacant manufacturing plant in Monroe.
V-Vehicle is making a second attempt at getting a federal Energy Department loan to manufacture a fuel-efficient vehicle. It is leasing the now-vacant Guide Corp. plant that once made vehicle headlights.
The plant is owned by James Davison, a northeastern Louisiana businessman who also is an investor in V-Vehicle.
The company has revealed few details of its vehicle, citing competitive concerns.
The federal government rejected V-Vehicle’s first application for $321.1 million in loans, saying the company needed to come up with an additional $100 million of private investments and credit lines.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info