Mississippi: Electric car maker makes overdue loan payment

By Jeff Amy, Associated Press

Mississippi officials say an electric car maker has made an overdue payment on its state loan.

 

JACKSON, Miss. (AP) — Mississippi officials say an electric car maker has made an overdue payment on its state loan.

Jeff Rent, a spokesman for the Mississippi Development Authority, said Wednesday the agency has received the $150,000 payment due Monday. The state extended the deadline for the first payment on the $3 million state loan, which had originally due been June 30.

In addition to missing its loan payment, Mississippi says GreenTech has neither hired the 350 people nor invested the $60 million it promised. Rent didn't immediately respond to a question about whether the state will take additional actions.

The company said in August it was raising money through a merger of its assets in China with another business. Previously, GreenTech has raised money from Chinese people seeking U.S. residency by investing $500,000.

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