The Carnage Continues: Another Federally Funder Automaker Bites The Dust

A Michigan maker of vans for the disabled that received a $50-million Energy Department loan has quietly ceased operation and laid off its staff.

Vehicle Production Group, or VPG, stopped operations after finances dipped below the minimum threshold required by the government as a condition of the loan, says its former CEO, John Walsh. Though about 100 staff were laid off and its offices shuttered, it has not filed for bankruptcy reorganization.

VPG, of Allen Park, received its Energy Department loan under the same clean-energy programs under fire by House Republicans, especially the $527 million to troubled plug-in hybrid car maker Fisker Automotive and $535 million to solar startup Solyndra, which filed for bankruptcy reorganization. VPG was deemed eligible for the loan because some of its vans were expected to be fitted with engines fueled by clean compressed natural-gas.

ErnestHouse - 5/8/2013 3:29:35 PM

+1 Boost

Is there no way this can be blamed on G. W. Bush? Rats. Darn those Republicans. $50 million hear, $527 million there, pretty soon it's George Soros and Warren Buffet pocket change.