I’m keeping a watch on this one since it is happening about 50 miles north of my home town (there is a massive new Toyota plant 15 miles in the other direction in Blue Springs, Mississippi).
GreenTech Automotive says it will unveil its MyCar electric vehicle line in Horn Lake, just south of Memphis, Tenn. Some auto industry analysts have questioned whether the company will succeed.
MyCar is a two-seater neighborhood electric vehicle, between a golf cart and conventional car, with a 115-mile range. The company has said it plans to sell a “sizeable percentage” of production to Denmark over several years. In the United States, such vehicles are allowed only on streets with speed limits of 35 mph and below. The vehicles are supposed recharge from household electric outlet and sell for about $10,000.
Who is involved? Democratic operatives and their close friends and Obama campaign contributors, the ChiComs:
Former Democratic National Committee Chairman Terry McAuliffe is chairman of GreenTech, based in McLean, Va. The CEO is Chinese businessman Charles X. Wang.
Will it be another “greenfail” with the only people making out on the deal the Democrat tied insiders?
Automotive industry insiders think so, stating that this model has been tried several times before and failed. They are confident that McAuliffe’s venture is dead on arrival:
I’ve only been blogging about the car industry for about three and a half years, but I’ve seen this movie way too many times before. If you’ve missed out on the ZAP saga, to cite the most infamous example of the “NEV today, domination tomorrow” scam, read this, this, this and this for a primer on how this game works. It’s not pretty, and I hoped it was left behind in 2008, when it still fooled a few people. Today there’s no excuse for anyone to be taken in by such an unimaginative, played-out scam.
Notice that the print article in the North Mississippi Daily Journal states that the top model will cost $18,000 and get a massive 95 miles on a charge…