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Gov't Funded Electric Car Co. Goes Out of Business

thecarchik (1520545) writes | about 3 years ago

Government 0

thecarchik (1520545) writes "Consider today's collapse of electric car company Green Vehicles an object lesson in why it's a bad idea for cities to invest in the risky business of start-up car companies--perhaps especially start-up electric car companies. Even start up car companies with a viable product have seen their fair share of financial troubles , but Green Vehicles did not even have a product to sell off at a fire sale. The city of Salinas, California learned that lesson today as Green Vehicles shut its doors, costing the city more than $500,000."
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