Another EV Startup Bites The Dust As Feds Slow Money Grab From Energy Loans

Carbon Motors Corp. said it won’t get a U.S. Energy Department loan it applied for to develop more fuel-efficient police cars.

The Connersville, Indiana-based company said today it had asked for $310 million in financing from the Advanced Technology Vehicle Manufacturing program, which last week declined to give Bright Automotive Inc. a loan to develop electric commercial vans.

The program is one of three Energy Department lending programs drawing scrutiny since last year’s bankruptcy of solar- panel maker Solyndra LLC, a recipient of U.S. loan guarantees.

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TehShibbs - 3/8/2012 6:53:14 PM

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Reading before commenting is a good thing.

"...to develop more fuel-efficient police cars."

That says nothing about electric vehicles. The U.S. Energy Department funds research to develop cars that use less energy, no matter what that energy source is.