Van Maker That Got Energy Loan Shuts Down

VPG of Michigan received $50M from feds
By John Johnson,  Newser Staff
Posted May 8, 2013 1:12 PM CDT
Van Maker That Got Energy Loan Shuts Down
A woman exits the Vehicle Production Group's MV-1 automobile, the first vehicle designed from the ground up to be wheelchair-accessible, in January 2010.   (Mark Dye/newscast)

Critics of the Obama administration's efforts to boost green energy with the help of government loans have some more ammunition: A Michigan company that made vans for disabled drivers is going under after receiving $50 million from the Energy Department, reports USA Today. The start-up Vehicle Production Group got the loan because some of its vans were to run on natural gas.

The money is only about a tenth of the amount received by high-profile failures Solyndra and Fisker Automotive, but don't be surprised if VPG comes up on Capitol Hill. Back in 2011, the Washington Post wrote about the loan, noting that VPG was one of the portfolio companies in an investment firm run by major Obama fundraiser James Johnson. The company has ceased operations and laid off staff but hasn't yet filed for bankruptcy. (More Vehicle Production Group stories.)

Get the news faster.
Tap to install our app.
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.