Another one gone, another one gone, another one bites the dust.
Green Vehicles of Salinas CA has closed its doors. They were trying to develop an electric 3-wheeler, the Triac, but after burning through nearly $700,000 in state and local taxpayer funds.
The Triac was supposed to be another one of those rule-dodging vehicles which was considered by regulators to be a motorcycle and not a passenger car, because of its 3 wheel design.
According to the article here, the president of Green Vehicles notified the city of his company's failure via email. Nice.
So whey did the fail? The same reason that Aptera failed, and the same reason that most of the electric start-ups are going to fail. Building a safe, comfortable, reliable, affordable vehicle is not easy, and people are not as willing to experiment with such an expensive purchase as you might think.
When the dust settles, in a few years, I am convinced that the electric vehicles which are successful in the marketplace will come from the established automotive companies, with perhaps a niche player like Fisker or Tesla hanging on.
Despite the arrogant "we can do better" attitude of the start-ups, they are learning that the "old dinosaurs" do know a thing or two about product development and marketing.