18 Jul '11, 10pm

Start-Up Electric Car Company Green Vehicles Folds, Costs City $500,000

Start-Up Electric Car Company Green Vehicles Folds, Costs City $500,000

Consider today's collapse of electric car company Green Vehicles an object lesson in why it's a bad idea for cities to invest in the risky business of start-up car companies--perhaps especially start-up electric car companies . The city of Salinas, California learned that lesson today as Green Vehicles shut its doors, costing the city more than $500,000. Starting any company is a risky proposal--most don't make it past their first few years. Starting an electric car company can be even riskier, as governmental regulation of the car industry sets an expensive barrier to entry, and the nascent technologies in electric car development are costly and can shift direction quickly. Green Vehicles was working on a three-wheeled electric car called the Triac 2.0, intended as a freeway-capable commuter car with a range of 100 miles and a top speed of 80 mph. It used a 30kW permanent...

Full article: http://www.allcarselectric.com/news/1063336_start-up-elec...

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