Mercedes-Benz GLK Class
News
Reviews
Guides
Gas Mileage
Car Types

Zap factory hits speed bump

 
1,091 views Nov 24, 2008

zap-alias2

zap-alias2

Enlarge Photo


Plans for a new ZAP electric car factory near the Kentucky-Tennessee border have hit a speed bump when the company failed to secure $125 million in bond funding. GE Capital met with ZAP representatives twice, but eventually passed on funding the deal. With $48 million in tax incentives to spur them on, ZAP plans to build a million-square-foot factory, two-mile test track and a guest village on the campus as a partnership with Integrity Manufacturing. The factory is expected to employ 4,000 workers at full capacity.

Production of the ZAP vehicles will not stop because of this setback. Integrity Manufacturing says they will still be able to assemble 25 electric vehicles per day at the company's current headquarters. "We are retrofitting the plant," Integrity Chief Executive Randall Waldman. "We have over $40 million worth of orders to be filled over the next 12 months. I got vehicles I need to build."



Source: ZAP Electric Cars, Louisville Courier-Journal



Tags:
Posted in:
 
Contribute
Send us a tip Comment Contact the editor
Follow Us

 

Have an opinion?Join the conversation!

  • Posting indicates you have read this site's Privacy Policy and Terms of Use
  • Notify me when there are more comments
 

Have an opinion?Join the conversation!

Find Green Cars

Go!


More from High Gear Media

 
 
Green Car Reports
  • Follow Us
  • Twiiter
  • Facebook
 
 
© 2011 Green Car Reports. All Rights Reserved. Green Car Reports is published by High Gear Media. Send us feedback. Stock photography by Homestar, LLC.