France not yet ready to invest in Heuliez’s electric vehicle
By Andrew C., 30 Aug, 2010. 0 Comments
France's strategic investment fund (FSI) has said that it is not prepared to invest in Heuliez's electric vehicle project as new owner Bernard Krief Consulting (BKC) has yet to meet necessary guarantees, according to the fund‚ spokesman.
The reason given was that at this stage, “public money would not be protected.” Last March, FSI agreed to invest in niche car and equipment maker Heuliez, which builds the Tigra TwinTop for General Motors Co. unit Opel. The spokesman said BKC had not provided enough guarantees on the capital it would supply for the project. He also said that a shareholders' meeting scheduled for Wednesday that had been meant to launch the project could be cancelled.
[via reuters]
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