Bright Automotive, an electric van company backed by corporates including General Motors, Alcoa, Duke Energy, search engine group Google's foundation and Johnson Controls, blames its closure on the US Department of Energy.
Bright Automotive, a US-based electric van company, is winding down after being unable to secure funding from the US Department of Energy.
Reuben Munger, chief executive of Bright Automotive, and Mike Donoughe, its chief operating officer, wrote a strongly worded letter on Tuesday to US energy secretary Steven Chu, which said the company had been "forced to say ‘uncle’" by "onerous terms" demanded by the US department of Energy for its loan programme.
The company had been attempting to…
