Carbon Motors Sends Open Letter to Obama's Cabinet, Seeks $300M Loan
December 19, 2011 1:33 PM
comment(s) - last by
Carbon Motors E7
(Source: Carbon Motors)
Please sir, may we have $300 million?
The push to move the U.S. to newer technology cars and trucks that are more efficient in fuel consumption and produce fewer emissions is focused heavily on the consumer segment of the industry. In many areas, some of the most fuel consuming and polluting fleets are those for public service workers like law enforcement.
A company called Carbon Motors is soliciting the government for a loan to help it produce the first vehicle in the country specifically designed for police officers. In a letter to the members of President Obama's cabinet, the company outlines its need for a $300 million loan.
The letter reads in part:
Over two years ago, Carbon Motors filed an application for a loan of over $300 million with the Department of Energy's Advanced Technology Vehicle Manufacturing (ATVM) program. The ATVM direct loan program was established in a bi-partisan manner by the Bush Administration and has been carried on by the Obama Administration.
We have secured a mothballed automotive facility located in a town with unemployment at rates significantly higher than the national average – Connersville, Indiana – a victim of the fallout of automotive industry at the end of the last decade. With the ongoing criticisms aired concerning the U.S. Department of Energy's loan guarantee programs and the ATVM direct loan program, our country faces a critical decision now that will have significant impact on our first responders, taxpayers, environment, highways, our manufacturing employment base and the security of our homeland.
Carbon Motors is seeking the funds in order to produce its E7 police vehicle. The car is designed to be functional, safe, and fuel-efficient. The car has a turbodiesel engine with 300hp and 420 lb-ft of torque and is specified for a durability span of 250,000 miles. The cockpit of the car is ergonomically designed for comfort and to fit all the duty gear an officer needs for the day. The car has a radiation-, chemical-, and biological-threat detection capabilities.
The E7 also steps up monitoring capabilities by including a 360-degree exterior surveillance for audio and video. The car is also designed with 180-degree interior rear compartment audio and video recording for the rear compartment of the vehicle. The car can be had with an optional license plate detection system and optional integrated ballistic protection.
The company claims the car will be safer for police officers, produce less pollution, and save money on fuel as well. Carbon Motors is likely seeing delays in a verdict on its loan application due to the
process that green government auto firms are going through.
This article is over a month old, voting and posting comments is disabled
RE: Are people waiting for this?
12/19/2011 3:23:07 PM
If there's a market out there for this sort of thing, then let private investors take the risk. It's an interesting concept...designing a vehicle from the ground up for LE, rather that retrofitting a production vehicle. I would like to know how much these things will cost.
$300M, that's just too much risk to the taxpayer. I say... DENIED. As soon as they start production, some Chinese company will start making the same thing for half the price.
RE: Are people waiting for this?
12/20/2011 4:02:49 PM
Are you saying that legitimate businesses with good business plans shouldn't be allowed to get government backed loans?
Even if they do qualify for private funding it would be foolish NOT to also apply for government loans. This is just good business. The government loans frequently have better terms, lower interest, and more leinient requirements.
It is not their fault that the government is giving away money like it's going out of style. Honestly I would love for MORE good businesses to get federal funding than most of the crap that does. Then, maybe the government loans would actually get
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