Carbon Motors Raises $100 Million To Open First Factory
November 25, 2009
Carbon Motors Corp. has announced it has secured $100 million in private financing that will allow it to open its first factory in Connorsville, Ind., to build its E7 patrol car.
Carbon Motors is still waiting for approval of a $310 million federal loan to help finance the development of the high-tech vehicle that's set for 2012 production, the Indianapolis Star reports.
The company formed by a group that included ex-Ford executive Bill Li has also been able to get control of the plant once occupied by Visteon, one of the world's largest parts suppliers and former Ford division that declared bankruptcy earlier this year.
Carbon Motors' arrival to the patrol market will face stiff competition from Detroit automakers who have announced new patrol cars debuting in 2011. At the IACP trade show, General Motors announced it would revive the Chevrolet Caprice patrol vehicle, and Ford confirmed it will build a new Police Interceptor to replace the CVPI.
Read the full story.
Request more info about this product / service / company
Be the first to comment on this story
Other Recent News
RIBCraft, manufacturer of professional grade rigid inflatable boats (RIBs) for safety...
A Dallas Police Department helicopter was forced to make an emergency landing Monday night...
Fleet sales are an important part of U.S. automakers' bottom lines, and none have more...
BRP is bringing the performance, handling, and rider-focused design of its Can-Am ATVs and...