November 19, 2009

Gillibrand Calls on Feds to Provide Loan for Syracuse Electric Car Company

According To Bannon Automotive, New Plant Would Create 250 Jobs In Central New York

Washington, DC - U.S. Senator Kirsten Gillibrand today urged the Department of Energy to approve a loan for Bannon Automotive to develop an electric car manufacturing facility in Syracuse, New York. The production and sale of these multiple alternative battery electric cars will help curb carbon emissions and could lead to the creation of 250 jobs in Central New York as part of the manufacturing operation.

In her letter to Energy Secretary Steven Chu, Senator Gillibrand wrote, "We have an exciting opportunity in New York State to manufacture environmentally-friendly, affordable vehicles using power management technology originally developed in the United States and used in India by REVA Electric Car Limited... As we transition into a clean energy economy, this company is the perfect example of what the future brings for clean technology manufacturing in producing new jobs and helping to create a cleaner environment."

Bannon's decision to locate their operation in Syracuse could result in an initial investment of approximately $40 million into the Upstate New York economy, with the potential to reach $50 to $75 million over the next five years.

Headquartered in Freeport, New York, Bannon is focused on the production of affordable plug-in electric vehicles for the North American automotive market.  Reva has granted exclusive rights for U.S. development and production of their electric cars to Bannon Automotive.