A company with plans for building high-tech police cars at an eastern Indiana factory has added a venture capitalist on board as it tries to raise millions of dollars to get off the ground.
The move by Carbon Motors Corp. comes after the U.S. Department of Energy's in March rejected the company's request for a $310 million loan to finance the start of production at a former auto-parts factory in Connersville, about 60 miles east of Indianapolis.
New board member Ron Nash is a member of InterWest Partners, a California-based technology venture capital partnership. Nash said he believes the company has a "breakthrough product" with its car.
Carbon Motors announced in 2009 its plans to move into a former Visteon plant and hire perhaps 1,500 workers.