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Thursday, May 09, 2013

Another ATVM Borrower Fails

VPG, which designed (and actually built) a purpose-built vehicle for handicapped transportation, has shut down.

The company ran out of money before it could become self-sustaining, after burning through about $400 million in private capital and a $50 million AVTM loan.

VPG's MV1 mobility vehicle was basically a homely body on top of a Ford truck frame, and uses many parts from existing vehicles.  It was well designed for transporting wheelchair bound passengers, with not much consideration for style.  Besides being ugly, the MV1 is heavy and thirsty, with EPA mileage of 11/14 for the gasoline version.

Inline image 1

If you want to buy one, there are still a few for sale, priced around $40,000.  Since they use a common Ford 4.6L V8 powertrain, service should not be an issue.

VPG at least made it to production, unlike Carbon Motors, the other famous failure in the purpose-built service vehicle sector.

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