Kentucky Venture Gets ZAPped

According to a number of reports(Lexington Herald-Leader, earth2tech, autobloggreen), the plans to build ZAP vehicles in Kentucky through a joint venture with Integrity Manufacturing have come to a halt. The company’s CEO Randy Waldman points to the loss of potential investor GE Capital as the primary reason. Apparently GE Capital was to provide $125 million in funding through a sale of bonds (although the Earth2tech story disputes this) but has pulled out of the deal. Integrity Manufacturing is now trying to find money in a $200 billion Department of Energy fund targeting energy projects. An alternative being mentioned by management is to convince another state to provide funding or a manufacturing facility.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.