Vehicles

Luxury Paratransit Builder Bought By New Firm

Posted on September 6, 2013

The MV-1 is the first uniquely engineered luxury paratransit model for the chauffeured transportation industry. It has been on display at International LCT Shows for the last few years.
The MV-1 is the first uniquely engineered luxury paratransit model for the chauffeured transportation industry. It has been on display at International LCT Shows for the last few years.

WASHINGTON, D.C. — Indiana-based AM General agreed to acquire the Michigan-based MV-1 wheelchair accessible vehicle funded by the Obama Administration with a $50 million loan. AM General said it had reached a deal with the U.S. Department of Energy to purchase the DOE’s secured loan to the Vehicle Production Group LLC. AM General bought the loan for $3 million.

Detroit News article here

Related LCT article: Maker Of MV-1 Shuts Down

Related LCT article: Paratransit Emerges As Growing Limo-Style Service

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