Decision On Loan For Proposed Auto Plant Taking A While

Congressman Rodney Alexander says a decision from federal energy officials on a big seed loan for a proposed Monroe auto plant won't be made anytime soon. Next Autoworks, formerly called V Vehicle Company, applied for federal low interest loans. Alexander says he's spoken with Department of Energy officials recently. The loans are offered from the DOE for car designs that use alternate fuel sources or get exceptionally high gas mileage. Next hoped to secure the loan before year's end. Alexander says the loan amount is quite large. (Next Auto hopes to build cars in Monroe and employ up to 1400 workers.) Alexander says he's recently spoken with the DOE on Next Autoworks' behalf. In the past year, the company has changed it's CEO, ousted its founder and changed its name. Alexander says that's a big part of the delay in getting the loan.