01 Mar '12, 5pm

Bright Automotive Closes After Inability To Secure Federal Loan: By Jeff Cobb This week, would-be hybrid vehicle...

Bright Automotive Closes After Inability To Secure Federal Loan: By Jeff Cobb This week, would-be hybrid vehicle...

Sensing that its own end was coming, last week, Bright’s executives sent Chu a letter saying "time is running out" and it commiserated with the energy department against political attacks on loan programs. "We understand the political assault and the often misguided and partisan criticism unfairly waged against you and your team," the letter said, adding that Bright would be forced to close in one week without funding. "Irrationality and petty politics have paralyzed your agency at a time America needs you most. One cannot score if one does not shoot."

Full article: http://www.hybridcars.com/news/bright-automotive-closes-a...

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