AM General Gains Control of VPG Autos
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.
Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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So when will the new cars be sold to the public? Us handicapped folks are eagerly awaiting to buy them.