AM General has agreed to purchase VPG Autos the maker of the MV-1. The what? By who? Allow us to explain.
The MV-1 is the world’s only vehicle designed from the ground up with wheelchair accessibility in mind. It also runs on compressed natural gas. Oh, and it looks like a Honda Element having an allergic reaction. AM General, which makes Humvee transports for the U.S. military, has been building VPG’s MV-1 and will now own and operate the business. The company plans on resuming production, sales, and product development for the MV-1 in 45 days.
The deal was made when AM General reached an agreement with the U.S. Department of Energy (DOE) to purchase the DOE’s secured loan to VPG. As a result, the DOE recovered only about one-sixth of its $50-million loan to VPG.
The MV-1 CNG has a 290-mile range and contributes to the efforts to reduce American dependence on foreign oil and substantially reduces light-duty fleet emissions and costs.