Carbon Motors Police Supercar Goes To Auction
Proceeds will go towards paying down more than $21 million in debt
The E-7 was to be the first purpose-built police cruiser. Featuring technology such as an automatic license plate recognition system, touchscreen computers and shotgun mounts the E-7 was touted as the ultimate crime fighting machine. Carbon claimed to have taken orders for more than 23,000 of the cars from over 600 agencies.
There were high hopes for the company as recently as a year ago when, In December 2012, they announced plans to build the supercar police cruisers in an empty eastern Indiana auto-parts plant.
Then the delays began. The company failed to obtain a grant worth $310 million from the energy department to build the biodiesel cars. The Indiana Economic Development Corporation stepped in with $2 million in grant money, along with the city of Connersville, Ind., which chipped in another $5 million. It was too late.
Six months later, Carbon Motors announce bankruptcy, with more than $21 million in debt and a mere $18,976 in assets. The 1,300 jobs promised by Carbon for the struggling Midwestern town failed to materialize. While Key Auctioneers are very hopeful the rare car will sell well, the municipal grant monies awarded to Carbon Motors are gone for good.
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