Start-up V-Vehicle renews plant lease
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.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Chris McDaniel gets a thank you note from Travis Childers
- Senate passes teacher pay raise legislation
- Pickering collects more money from failed beef plant project
- The First acquiring Alabama bank in cash/stock deal
- Lawmakers debating alternative to Medicaid expansion
- Todd Smith's Spin Cycle — Not milk! It’s end of era for milk industry’s iconic ‘Got Milk?’ campaign
- States settle with manufacturers in DRAM price-fixing case
- District at Eastover takes shape with financing in place, tenant signings under way
- MBJ's Businesswoman of the Year never expected her career to take this path
- Mississippi ag aviation plays a critical role in production and profitability