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Category: Carbon

Carbon Motors: Files for Bankruptcy Protection

Police car automaker files for bankruptcy protection

Carbon Motors E7-4

Updated: 6/12 3:49 pm
Published: 6/12 3:43 pm

INDIANAPOLIS (AP) — A company that had planned to take over a vacant Connersville plant and build high-tech police cars has filed for bankruptcy.

Carbon Motors Corp. filed for Chapter 7 liquidation in U.S. Bankruptcy Court in Indianapolis on Friday. The Indianapolis Business Journal reports the company listed liabilities of $21.7 million and assets of just $18,976.

The liabilities are mostly claims from investors totaling millions of dollars.

Carbon Motors announced in July 2009 that it would move into the vacant Visteon plant that was once Connersville’s largest employer and hire as many as 1,500 to build police cars from scratch instead of adapting civilian models.

But the plan unraveled after the U.S. Department of Energy rejected the company’s request for a $310 million loan in March 2012.

Carbon Motors pulls equipment from Indiana plant

carbon-indiana-lead

http://www.ibj.com/carbon-motors-pulls-equipment-from-indiana-plant/PARAMS/article/40514

A company that had hoped to open a high-tech police car plant employing as many as 1,500 workers in eastern Indiana has cleared out its plant amid the resignation of a key official.

Mayor Leonard Urban told the Connersville News-Examiner that crews removed equipment from the Carbon Motors plant in early March. Connersville Street Department employees have painted over the Carbon Motors logo on the entrance and exit signs at the plant, and removed the "Carbon Motors Drive" street sign.

The company had leased part of a vacant Visteon plant, but its lease with the city was to end Sunday, and no extension has been sought.

Carbon Motors arrived in Connersville, about 60 miles east of Indianapolis, in 2009 amid great fanfare, pledging to build its high-tech police cars at the idled auto parts plant. The plant’s closing had left the county with the state’s highest unemployment rate, and Carbon Motors was seen as a way to help turn things around.

But the U.S. Department of Energy rejected Carbon’s bid for a $310 million loan to finance the start of production in March 2012, throwing the company’s prospects in Connersville into doubt.

See the rest of the article at IBJ.com

http://www.ibj.com/carbon-motors-pulls-equipment-from-indiana-plant/PARAMS/article/40514

Carbon Motors chooses BMW to supply engines

 

The company will begin production on the fuel-efficient cruisers in 2013

By Ken Thomas
Associated Press

WASHINGTON — A new company planning to produce fuel-efficient police cruisers says it has chosen BMW AG to supply its engines.

Carbon Motors Corp. is developing the Carbon E7 squad car, which it says is the first vehicle specifically designed for police use.

The company, based in Connersville, Ind., said Monday that BMW will supply more than 240,000 diesel engines for the squad car, which includes bulletproof door and dash panels and radiation and biological threat detectors.

Carbon Motors CEO William Santana Li said the engine will provide more than 35 miles per gallon.

Associated PressCopyright 2010 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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