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DOE Under Fire over Clean Car Loan Loss

A $50 million gamble on a Michigan-based manufacturer of wheel-chair accessible vans running on compressed natural gas will cost tax payers $42 million after the company went bust and suspended operations. Based in Allen Park, Michigan, Vehicle Production Group (VPG) laid off hundreds of employees and halted operations back in February after having received a $50 million loan in 2011 from the Department of Energy (DOE)—only $5 million of which it managed to pay back and another three million that the DOE confiscated from the company’s…

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