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Submission + - Gov't Funded Electric Car Co. Goes Out of Business (allcarselectric.com)

thecarchik writes: 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. Even start up car companies with a viable product have seen their fair share of financial troubles , but Green Vehicles did not even have a product to sell off at a fire sale. The city of Salinas, California learned that lesson today as Green Vehicles shut its doors, costing the city more than $500,000.
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Gov't Funded Electric Car Co. Goes Out of Business

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