Thursday, April 30, 2009

Report: Phoenix Motorcars In Chapter 11

Ontario, California-based Phoenix Motorcars, a maker of electric vehicles, has reportedly filed for Chapter 11 bankruptcy. Phoenix Motorcars was backed by Al Yousuf LLC and AES Corporation, and was developing highway-speed, all-electric vehicles the firm had said would have a range of 100 miles. Calls to Phoenix Motorcars for comments on the filing were not returned as of press time.