According to a report on GreenBigTruck.com, Smith Electric Vehicles, makers of the battery electric Newton delivery truck, suspended production at the end of 2013. The suspension was not noted until the company filed their quarterly report with the U.S. Department of Energy as part of their energy loan requirements, which were then publicized just a few days ago.
The report says that of the $32 million the DOE loaned Smith Electric, the company has just $2.9 million left and suspended operations in December in order to conserve cash flow. GBT attempted to contact Smith Electric and was unsuccessful.
The Associated Press reports that the DOE is hoping to get the rest of the 501 promised trucks delivered by the testing program’s delivery expectation this summer. The DOE did not specify how many trucks were left to be delivered, though the loan program’s requirement of 501 is equal to the total number of trucks Smith Electric has reported producing thus far.
Smith Electric employed roughly 100 people in Kansas City, its headquarters. This is not the first time the electric truck producer has run into financial and other difficulties.
