REPORT: V-Vehicles waiting for DOE response, looking for future workers
V-Vehicle Co., the ambitious start-up that's received backing from T. Boone Pickens (among others), is moving forward with its plan to build a "fuel-efficient car for the U.S. market." The company has put in a request to the DOE for $250 million in low-interest Advanced Technology Vehicle Manufacturing program loans in order to re-open a facility in Monroe, Louisiana that was once a GM plant. The VVC plant would employ 1,400 people with an average salary of $40,000 once full production ramps up, something that will take many years. Earth2Tech reports that the state of Louisiana and local governments have offered VVC over $80 million worth of incentives and VVC says it has raised over $100 million from investors. Some of the local incentives are conditional on VVC being able to raise $350 million in equity or loans first. VVC expects to hear from the DOE next month.
While the company isn't taking applications right now, they do have an email sign-up list for people interested in knowing when the hiring process gets started in earnest sometime next year. VVC hopes to hire "a limited workforce of fewer than 100 people for the start-up of operations in the fall of 2010."
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