Korchin tried to sell the Zenn neighborhood electric vehicle. However, the limitations of these low speed EVs generally only made them suitable as second or third vehicles for private owners. When the economy took a dive in 2008, consumers found it increasingly difficult to justify such an expenditure, no matter what their environmental leanings. Korchin has now lost his investment, as have many others in the same business, including dealers of Zap Xebras and other similar vehicles. Several manufacturers of NEVs have also gone bust or gotten out of the business in the last couple of years in including American Electric Vehicles and Zenn. With full function electrics coming to market later this year, life is going to get even tougher for those selling NEVs.
[Source: San Jose Mercury News]