Micah Kellner's favorite car company was sold at a $47 million loss to the US taxpayer.
Indiana-based AM General agreed to acquire the Michigan-based MV-1 wheelchair accessible vehicle funded by the Obama administration with a $50 million loan.
AM General said it had reached a deal with the U.S. Department of Energy to purchase the DOE’s secured loan to the Vehicle Production Group LLC. AM General bought the loan for $3 million.
Assemblymember Kellner received tens of thousands of dollars from VPG and its owner Fred Drasner in exchange for his favorable testimony before the TLC regarding the MV-1.