No New Cop Cars? DOE Denies Carbon Motors Loans, E7 In Question

Yeah, those mean-looking, purpose-built Carbon Motors E7 police cruisers may look like the cop car of the future, but that future may be quite a ways off. The Indiana-based start-up company announced it was denied a $310 million loan sought from the U.S. Department of Energy's Advanced Technology Vehicle Manufacturing program. “We are outraged by the actions of the DOE and it is clear that this was a political decision in a highly-charged, election-year environment,” Carbon Motors Chief Executive Officer William Santana Li said in a statement placed on the company’s website. “Since Solyndra became politicized last fall, the DOE has failed to make any other loans under the ATVM program, has pulled back one loan that it previously committed, and as of this month, the DOE has pushed aside the three remaining viable loans under active consideration.” The Carbon Motors website also says that the loan would help create 1550 direct jobs in Connersville, Indiana, and as many as 10,000 direct and indirect jobs across the nation through Carbon's supplier base. “Over the last two and a half years, the DOE has worked with Carbon Motors to try to negotiate a deal that supported their business while protecting the taxpayers,” Damien LaVera, an Energy Department spokesman, said in an e-mail to Bloomberg. “While we were not able to come to an agreement on terms that would protect the taxpayers, we continue to believe that Carbon Motors is an innovative company with an interesting project and we wish them luck.” For now, it looks as if the police cruiser market will be left to Ford, Chevrolet, and Dodge... Source: Bloomberg, Carbon Motors, www.senate.gov

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