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Concerned by news that UK-based electric commercial truck maker Modec fell into administration, Barry Shrier, chief executive officer of Liberty Electric Cars, has committed "significant resources" in an attempt to rescue the ailing automaker. Last Monday, Shrier said:
It's a sad day for the automotive industry as the UK has become the epicentre of electric vehicle technology – a position we must not relinquish. I believe Modec needs to be rescued by a UK firm to secure jobs and retain engineering expertise in this country.
Shrier continued by outlining Liberty's technological road map and claiming that a Liberty/Modec tie up could lead to the emergence of a "formidable player" in the electric vehicle segment. Though there's been no official announcement indicating that Liberty will buy out Modec, there is, at the very least, a bit of speculation that a takeover could be in the making.

[Source: Liberty Electric Cars]