Phoenix Motorcars: "We have not abandoned the alternative fuels transportation space."
Phoenix SUT - Click above for a high-res gallery
Phoenix Motorcars has responded to our request for information about the bankruptcy filing news we heard about earlier this week.
This email is written in response to questions we have received from Autoblog Green relating to our recent restructuring.In other news, Earth2Tech notes that the bankruptcy hearing scheduled for today is meant to, literally, keep the lights on and that Phoenix's battery partner, Altairnano Technologies, had to write down the value of Phoenix's stock on its books in early March. Thoughts?
Phoenix MC, Inc. is going through a restructure of which we plan to be very straight forward and short in nature. We have secured DIP financing and have a clear path in front of us.
We have not abandoned the alternative fuels transportation space.
We will have no further comments.
Sincerely,
Daniel J. Elliott
Chairman & CEO
Phoenix MC, Inc.
Gallery: AFVI Ride & Drive Phoenix SUT
[Source: Phoenix]
Reader Comments (Page 1 of 1)
Ernie 12:07PM (5/01/2009)
It depends on how you define "abandoned", since I've never been able to buy a Phoenix (because I'm not a fleet customer in California). They can't abandon customers that were never there in the first place.
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handy5560 11:44AM (8/16/2009)
I was on their waiting list until I got an email telling me the vehicle price. I did some comparison figures with a Costco price on a 4 cyl Jeep that gets good mileage and realized that the cost of driving an all electric vehicle with an expensive price tag outweighs all of its potential savings by gas pump and mechanical repair cost reductions. There are going to have to be some major subsidies granted to the electric car industry in general to make them competitive enough to get the general public involved. So far, the only device that I have read about that makes the most sense for the general public is an aftermarket add-on(the "electrocharger") which is not ever going to be made an aftermarket "add-on" by the creator as long as he has business agreements with one of the big three automakers. It is sad that what is good for the majority hardly ever makes it to the market after all is said and done. But, unfortunately, that's what happens when profit rules out progress.
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