backtop


Print 57 comment(s) - last by Skywalker123.. on Dec 21 at 12:56 PM


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 third-party review process that green government auto firms are going through.

Source: Carbon Motors



Comments     Threshold


This article is over a month old, voting and posting comments is disabled

RE: Here we go again!
By Just Tom on 12/19/2011 4:45:35 PM , Rating: 2
quote:
Not every venture can be done by "market forces". Certain high risk and large scale projects need public backing. At least this is a loan with the intent of having it paid back.


If the loan was likely to be paid back Carbon could secure financing now. The risk is likelier much higher than the interest rate to be charged.

What exactly about a small botique auto-manufacturing company catering to a small niche that is already well served warrants public financing?

quote:
If this was a defense contractor making a new vehicle for the military would you still complain as loudly? Probably not.


I would.


"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins














botimage
Copyright 2014 DailyTech LLC. - RSS Feed | Advertise | About Us | Ethics | FAQ | Terms, Conditions & Privacy Information | Kristopher Kubicki