MONROE, La. (AP) -- A V-Vehicle Co. spokesman says he's confident the company will secure a critical federal loan before its March 1 deadline from local and state governments that have promised their own incentive packages.
V-Vehicle spokesman Joe Fisher tell The News-Star that company executives met with U.S. Department of Energy officials in Washington on Thursday to discuss the new car company's application for $320 million in low-interest loans.
V-Vehicle plans to begin production of its mystery car in early 2011.
The company has raised about $100 million in private capital and received an $87 million grant package that includes $82 million in state and local money.
V-Vehicle must raise $350 million in capital by March 1 to trigger the bulk of the grant package or ask for an extension.
