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Tag Archives: GreenTech

GreenTech files for bankruptcy

A company founded by former Virginia Gov. Terry McAuliffe has filed for bankruptcy, citing negative press and lawsuits by investors who call it a “scam perpetrated by savvy and politically connected operatives” to exploit overseas investors. The Richmond Times-Dispatch reports that the bankruptcy filing by the electric car company cites $7.5 million won by 12 investors and pending lawsuits. It says GreenTech ...

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Latest failure from Barbour years: Stion to shut down plant in Hattiesburg

By JACK WEATHERLY Stion Corp., the solar panel maker in Hattiesburg, will shut down, the company said in a letter. The San Jose, Calif.-based company’s Hattiesburg facility has been operating since 2012, said in the letter it would “discontinue operations,” Greentech Media, an industry publication, reported on Monday. Stion was one of five alternative-energy projects begun during the administration of Gov. ...

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Mississippi demands $6.4M back from electric car maker, CEO

Mississippi’s state auditor on Wednesday demanded that a troubled electric car maker or its leader repay $4.9 million in state and local aid the company received, plus $1.5 million of interest. Auditor Stacey Pickering issued the demand to GreenTech Automotive and its CEO, Charles Wang, saying the company has failed to live up to pledges to invest $60 million and ...

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Electric car maker GreenTech lays off Mississippi workers

Electric car maker GreenTech Automotive has laid off some or all employees at its Mississippi Delta plant. Mississippi Department of Employment Security spokeswoman Dianne Bell told The Associated Press Thursday that the agency has been told GreenTech is “shutting down” in Tunica County. GreenTech didn’t return requests for comment. GreenTech owes Mississippi $2.85 million, after making an overdue $150,000 loan ...

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Mississippi: Electric car maker makes overdue loan payment

Mississippi officials say an electric car maker has made an overdue payment on its state loan. Jeff Rent, a spokesman for the Mississippi Development Authority, said Wednesday GreenTech Automotive made a $150,000 payment this week. The state extended until Monday the deadline for the first payment on a $3 million state loan, originally due June 30. The loan agreement calls ...

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GreenTech says it’s back on track with Tunica Plant

If you’ve been looking in the “Missing Project’s” folder for GreenTech Automotive’s Tunica plant, you need search no more. After two years of delays and a federal investigation into enticements used to gain foreign investors for the plant, the McLean, Va.-based GreenTech erected steel support structures for the facility Wednesday and invited the Mississippi media to Tunica to witness the ...

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GreenTech to mark milestone this week on building Tunica car plant

If you’ve been looking in the “Missing Project’s” folder for GreenTech Automotive’s Tunica plant, you need search no more. After two years of delays and a federal investigation into enticements used to gain foreign investors for the plant, the McLean, Va.-based GreenTech says it will erect steel support structures for the facility and has invited the Mississippi media to Tunica ...

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