Bright Automotive has just announced its plans to close up shop. It blames the Department of Energy (DOE) for not helping secure a $314 million loan.
In a letter to DoE secretary Steven Chu, Bright execs wrote that the government failed them and ultimately lost “hundreds of great manufacturing and technical jobs … and thousands of indirect jobs in Indiana and Michigan”
The company was founded in 2008, and planned on releasing a plug-in hybrid van (seen above) but has yet to manufacture any.
In 2007, the government offered loans to companies that would produce energy-efficient vehicles. Programs like this helped get Tesla off the ground, but lately it seems like the DOE is killing off more ideas than breeding innovation.
Readers may be reminded of another inventive company called Aptera which also closed its doors a short while ago. Both companies floundered after finding that their projected funding from the DOE program would fall through.