Electric cars are supposed to be quiet, but things just got even quieter in Kentucky. Integrity Manufacturing, which was trying to get a factory going in Kentucky to build Zap electric vehicles, has closed the doors and turned off the lights. Apparently, the $125 million in financing the company was looking for never materialized and the accounts simply ran dry.
Integrity had hoped to employ up to 4,000 people building EVs, although employment peaked at 200 in the middle of 2008. Zap spokesman Alex Campbell told the Louisville Courier-Journal, "There is so much that has happened, I am not sure what is going on. We have our existing business to run." He declined any additional comment on future Zap manufacturing in Kentucky.
This is another example of how difficult it is to start up a car company, especially in a recession. Anyone hoping to get into the business needs to think long and hard. This doesn't bode well for other start-ups. Thanks to Michael for the tip!