VPG Autos ceases operations
The MV-1 was a purpose-built vehicle designed to accommodate disabled drivers or passengers, but according to Business Insider, the company ran out of cash following the US Department of Energy freezing its assets. VPG took a $50 million loan from the DOE in 2011 but failed to keep its reserve funds at an amount required by the loan. Sadly, there was no shortage of orders for the MV-1, but VPG just didn't have the capital to get the vehicles built.
- Most and least efficient car companies
- Fastest-depreciating cars in the United States
- Find and compare 2017 Models