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Smith Electric Vehicles US offers to buy out its UK parent

181 day(s) ago - Source: AutoblogGreen

Filed under: EV/Plug-in
Smith Electric Vehicles Newton - Click above for high-res image gallery

Smith Electric Vehicles U.S. has made an offer to the Tanfield Group to purchase Smith Electric Vehicles. Tanfield is a minority shareholder in the U.S. company along with a group of private investors. Smith Electric Vehicles U.S. wants to own the brand as well as all of the intellectual property needed to continue in the business of building electric commercial vehicles like the Newton.

The British and American operations would be combined under a single company as it moves forward. Tanfield has given the American company four months to line up the financing for the deal during which it won't consider any other offers for Smith UK. Smith U.S. recently started assembling the Newton medium duty electric truck in Kansas City, MO.


Gallery: EVS23: Smith Electric Truck
[Source: Government-Fleet.com]Continue reading Smith Electric Vehicles US offers to buy out its UK parentSmith Electric Vehicles US offers to buy out its UK parent originally appeared on Autoblog Green on Thu, 11 Mar 2010 10:01:00 EST. Please see our terms for use of feeds.Permalink | Email this | Comments

Read full story: Smith Electric Vehicles US offers to buy out its UK parent

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