Feds lose $45 million on 'green' car for handicapped drivers

[Alan C.]

Indiana firm acquires MV-1 wheelchair accessible vehicle

 

The Obama administration said it will lose money on the investment. It previously recouped a $5 million reserve fund, so it’s not clear how much of the remaining $45 million it lost. But chances are it lost tens of millions of dollars, since there was little outside interest for the start-up. The Energy Department auctioned off its outstanding loan in recent weeks to exit the troubled investment.