Carbon Motors Corp. said it won’t get a U.S. Energy Department loan it applied for to develop more fuel-efficient police cars.
The Connersville, Indiana-based company said today it had asked for $310 million in financing from the Advanced Technology Vehicle Manufacturing program, which last week declined to give Bright Automotive Inc. a loan to develop electric commercial vans.
The program is one of three Energy Department lending programs drawing scrutiny since last year’s bankruptcy of solar- panel maker Solyndra LLC, a recipient of U.S. loan guarantees.
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