BATON ROUGE -- Aides to U.S. Sen. Mary Landrieu and Congressman Rodney Alexander have met with federal Energy Department officials to see how start-up automaker V-Vehicle Co. can reapply for $321 million in federal loans. The loans are needed for the company's plan to build a new fuel-efficient car in Monroe, creating about 1,400 jobs. The loans were rejected...
The old Guide Corp. headlamp plant in Monroe, was being prepared by the V-Vehicle Car company to become the assembly plant for a new green-car. BATON ROUGE -- Aides to U.S. Sen. Mary Landrieu and Congressman Rodney Alexander have met with federal Energy Department officials to see how start-up automaker V-Vehicle Co. can reapply for $321 million in federal loans.
The loans are needed for the company's plan to build a new fuel-efficient car in Monroe, creating about 1,400 jobs. The loans were rejected last week, but the company can reapply.
V-Vehicle spokesman Joe Fisher told The News-Star that officials want V-Vehicle to have enough capital to be solvent without the loans. The company has raised $86.5 million in private capital. Another $87 million in state, local and federal grants had been promised if V-Vehicle obtained the loan.