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
- A BIG CHANGE: New mortgage rules seen bringing increase in pricey mobile home loans
- Analyst: KiOR Columbus plant may end up sold as scrap
- Warden who lives hundreds of miles from jail resigns
- DAVID DALLAS: Savor this Thanksgiving and be grateful
- Jail kitchen supervisor pleads guilty to stealing food
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- WILLOUGHBY: Bernie Reed cites hard work as key to success of Reed’s Metals
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Hunting-weapons legislation passes House