Liberty Electric Cars set to free Modec commercial vehicles failure 09 March 2011
Following news that Coventry-based electric commercial vehicle maker Modec has entered administration, making half its workforce redundant, Liberty Electric Cars CEO Barry Shrier is attempting a rescue.
Commenting yesterday (Tuesday 8 March) Shrier said: "It's a sad day for the automotive industry, as the UK has become the epicentre of electric vehicle technology – a position we must not relinquish.
"I believe Modec needs to be rescued by a UK firm to secure jobs and retain engineering expertise in this country."
Shrier went on to say that he has "committed significant resources within the Liberty organisation to see how to help Modec". He also speculated that "a combined Liberty/Modec organisation would make a formidable player in the electric vehicle sector".
Modec was founded by Lord Jamie Borwick in 2004 and is widely regarded as among leaders in the electric commercial vehicle market, and one of the most promising low-carbon business opportunities for the West Midlands.
However, when takeover talks with American partner Navistar failed, the company had to call in the administrators.
"While I applaud the UK government for promoting the uptake of ultra-low carbon vehicle technologies, with financial assistance for research and for infrastructure development, I wonder why there have been no initiatives towards commercial vehicles," commented Shrier.
"According to the website of the Department for Transport, the automotive sector is enormously important to the UK – directly employing 180,000 people in over 3,300 businesses and equating to 6% of the entire UK manufacturing workforce," he addsed.
"It's time to walk the walk, not just talk the talk. If the UK is to retain its position as a world leader in electric vehicle technology, the government needs to do everything it can to make sure key players, such as Modec, are not allowed to fail."
Liberty Electric Cars
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