We've recently heard reports that claimed that South Korean automaker CT&T is struggling in a pretty serious way. According to the Houston Chronicle, CT&T has "abandoned its pledge to the three states [ Hawaii, Pennsylvania and South Carolina] – without notice – and deserted its new U.S. markets amid financial difficulties." Not so fast, says, Joseph White, chief operating officer of CT&T electric vehicle sales and marketing, who told the New York Times that those claims are erroneous.
In a telephone interview with the Times, White stated:
According to White, CT&T still aims to set up shop somewhere in upstate South Carolina. However, there's no timetable for that and White did admit that CT&T's promised assembly plant in Hawaii and its assembly and distribution sites in Pittsburgh and Philadelphia Pennsylvania will "have to be for later on."A lot has changed structurally for us. Our parent company in Korea is now a public company, where it was privately held. Our operation here in the United States has morphed into more of a strategic holding company. We are in the process of adapting to those changes. We are still selling vehicles, delivering them to our customers, and we have significant inventory here – over $5 million worth. In fact, a few days ago in Korea, our parent company just unveiled another new four-passenger low-speed vehicle for our lineup
The New York Times reports that CT&T United's phones have been disconnected, but business is somehow still being conducted. When prodded by the NYT, White declined to reveal the number of employees working at CT&T and wouldn't disclose the automaker's sales volume. This all seems a bit too fishy to us. You?
[Source: New York Times]