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.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...

Predict, Prescribe, Profit: Creating a World that Doesn't Break Down

What are you doing to reduce unplanned downtime at your plant? Equipment breakdowns and process i...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs