Mississippi Wants $6M Back From VA Gov's Former Electric Car Venture
The state of Mississippi called for an electric car company founded by Virginia Gov. Terry McAuliffe (D) to pay back more than $6 million in loans after the venture failed to create adequate jobs.
State Auditor Stacey Pickering demanded that GreenTech Automotive give back $5 million worth of public loans, plus interest, the Richmond Times-Dispatch reported.
Pickering said the venture failed to create jobs in Mississippi, as promised, and sent a letter to current CEO Charles Wang asking for repayment within 30 days.
He said his office has faced "resistance" from GreenTech while pursuing an audit, which "raised red flags" that are causing him to consider a formal investigation.
Pickering added that McAuliffe could potentially be included in any future lawsuits, should the state move in that direction.
"If it results from the time he was involved in the corporation, those will be issues that we'll be addressing at that time," he told the paper. "We've never had a company force our hand at this level."
McAuliffe created GreenTech by buying a Chinese company and moving it stateside - opening it in 2012 with a ceremony that included former President Bill Clinton and then-Gov. Haley Barbour (R-Miss.).
The federal government later took a look at the company, according to the paper, because it utilized a "controversial immigrant investor program."
One of its products, a "MyCar," cost $10,000 in 2012 and had a maximum speed of 45 m.p.h., according to Watchdog.org.
McAuliffe, who left the company around the time he ran for governor, is seen as a possible 2020 Democratic challenger to President Trump.
He did not offer comment to the Times-Dispatch.
Watch a report on Tesla's latest electric car above.