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LDV to go electric
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25/02/2009
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Plans are well advanced to turn LDV into a volume producer of electric vans.
According to the company blog at http://blog.ldv.com, the company has completed the development of a range of electric vehicles designed specifically to meet the requirements of the DfT Low Carbon Procurement Programme. It is one of only two manufacturers with volume capability, selected by the DfT to supply public service companies with electric light commercial vehicles. Final prototype vehicles have been in testing with major fleets, councils and local authorities for some time and demand for the production products is said to be strong.
Erik Eberhardson, head of the management buyout team and Liam Bryne, MP for Birmingham Hodge Hill said on Tuesday February 24th:
“We had a long and constructive meeting with Ian Pearson, the buyout team, LDV management and workforce representatives this morning. Discussions are continuing and we continue to believe there is a viable long-term future for LDV."
The blog continues, "Due to the global financial crisis, the parent company GAZ is currently unable to fund further investment in the business and therefore Erik Eberhardson, outgoing Chairman of GAZ has announced a management buy out (MBO) package to enable the business to complete it’s transformation.
"The management buy out requires a short term bridging loan until further funds are available to enable the plans to proceed. This loan is not available from banks in the required timescale, so the MBO team have approached the government for assistance."
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Author
Tom Shelley
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