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GreenTech Automotive (also known as WM GreenTech Automotive Corp.) was a United States automotive manufacturer founded in 2009 that planned to develop and produce ultralow-power electric cars resembling very small cars or large golf carts. It was a Virginia corporation, with its operations based in Mississippi.
Its founder and CEO was Charlie Wang. Between 2009 and 2013, GreenTech raised $141.5 million from Chinese investors, and $6 million from Mississippi and the state's Tunica County, with the company promising to invest $60 million and create 350 jobs in the county. Wang promised to build a $2 billion plant in Mississippi, and said that the company planned to produce 250,000 cars a year and provide 4,500 local jobs at full production.
However, it produced few cars, if any. GreenTech declared bankruptcy in 2018, paying its investors and creditors only $7 million.
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Its founder and CEO was Charlie Wang. Between 2009 and 2013, GreenTech raised $141.5 million from Chinese investors, and $6 million from Mississippi and the state's Tunica County, with the company promising to invest $60 million and create 350 jobs in the county. Wang promised to build a $2 billion plant in Mississippi, and said that the company planned to produce 250,000 cars a year and provide 4,500 local jobs at full production.
However, it produced few cars, if any. GreenTech declared bankruptcy in 2018, paying its investors and creditors only $7 million.
View More On Wikipedia.org