EV Auto Maker Miles Electric Files For Bankruptcy

U.S. electric car manufacturer Miles Electric Vehicles filed for chapter 11 bankruptcy protection early on Tuesday, court documents showed, highlighting the difficulties faced by battery-powered vehicles in gaining wide market acceptance.

Miles Electric Vehicles, founded in 2004 by "green" entrepreneur Miles Rubin, listed estimated assets in the range of $10 million to $50 million, and estimated liabilities of between $50 million and $100 million.

The company's low-speed all-electric vehicles include ZX40S car and ZX40ST work truck used in off-highway situations such as university campuses and military bases.

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