Electric Vehicle International

In 1997, the company received a $1.1 million loan from the Department of Housing and Urban Development amid promises it would bring 300 jobs to the city about 25 miles northeast of Indianapolis. The city of Anderson guaranteed the defunct electric vehicle manufacturer the federal loan. Electric Vehicle International was sold and operations were moved to Mexico. The company was unable to make yearly payments on the principal and interest and must now pay a $500,000 settlement. (Jul-24-05) [INDY STAR]

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