V-Vehicle Co. will likely know soon whether it will be approved for a $250 million low-interest federal loan from a program designed to assist manufacturers in building high-mileage cars. The startup company, which plans to begin assembling new cars late next year at the former Guide Corp. plant in Ouachita Parish, applied for the loan through the U.S. Department of Energy’s Advanced Technology Vehicles Manufacturing program. U.S. Rep. Rodney Alexander, a Republican, says he believes the Energy Department will announce loan recipients “within a matter of days.” VVC officials announced last month the company will create 1,400 jobs when it begins manufacturing. Though details of the car remain a mystery, investors have confirmed it is a high-mileage, gasoline-powered vehicle that will cost about $10,000.
V-Vehicle awaits word on federal loan
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