Gov't Funded Electric Car Company Goes Out of Business

thecarchik writes "Consider yesterday's collapse of electric car company Green Vehicles an object lesson in why it's a bad idea for cities to invest in the risky business of start-up car companies — perhaps especially start-up electric car companies. Even such companies with a viable product have seen their fair share of financial troubles, but Green Vehicles did not even have a product to sell off at a fire sale. The city of Salinas, California learned that lesson as Green Vehicles shut its doors, costing the city more than $500,000."

Comments

Just cities?

[MrEricSir]

I'd say it's a bad idea for *anyone* to invest in a company that has no product and/or does not make money.

Business plans are a dime a dozen; ability to execute is an uncommon skill.