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    Carbon Motors seemed to be on track to produce its E7 purpose-built police car last year, but then the US Department of Energy rejected its request for a $310-million loan and the situation went south from there. The company filed for bankruptcy four months ago and had only produced one E7, a working prototype that isn't street-legal, and now it's up for auction, Indystar reports. Proceeds from the auction, which will be held by Indianapolis-based Key Auctioneers on Jan. 23, will go towards payi

    So much for Carbon Motors. The would-be police pursuit vehicle manufacturer has officially filed for Chapter 7 bankruptcy (read: liquidation) according to the Indianapolis Business Journal. The company officially lists its liabilities at $21.7 million and its assets at a mere $18,976, including one prototype, a few bits of furniture, books and the company's intellectual property. Some of the largest debtors are investors and suppliers, including BMW. The German automaker claims Carbon Motors owe

    Three years ago, Carbon Motors chose one corner of a shuttered Visteon plant in Connersville, Indiana as the location to build its diesel-powered E7 dedicated police cruiser. Carbon intended to invest $350 million to start production, providing 1,500 jobs at the same time. That investment, however, relied the US Department of Energy approving a $310-million loan to Carbon through the Advanced Technology Vehicles Manufacturing Loan Program, a loan that was ultimately denied.

    Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics.

    Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics.

    Carbon Motors, the manufacturer of the purpose-built E7 law enforcement vehicle, has sent an open letter to members of President Barack Obama's cabinet urging the administration to approve the company's Department of Energy Advanced Technology Vehicle Manufacturing loan. Carbon Motors applied for a $300 million ATVM loan two years ago, but has yet to secure the funding. With members of congress eying any and all ways to stem the flow of government spending, there's some concern the ATVM loan pro

    Carbon Motors, the manufacturer of the purpose-built E7 law enforcement vehicle, has sent an open letter to members of President Barack Obama's cabinet urging the administration to approve the company's Department of Energy Advanced Technology Vehicle Manufacturing loan. Carbon Motors applied for a $300 million ATVM loan two years ago, but has yet to secure the funding. With members of congress eying any and all ways to stem the flow of government spending, there's some concern the ATVM loan pro

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