Korean electric car company CT&T made a splash in three states when it rolled shiny, tiny vehicles off big rigs and announced with smiling governors that it would hire hundreds of Americans to build them in new factories.
But those plans have stalled in Hawaii, Pennsylvania and South Carolina without anyone hired, any plants constructed or any electric cars assembled.
The South Korean electric car and golf cart manufacturer has apparently abandoned its pledge to the three states - without notice - and deserted its new U.S. markets amid financial difficulties, The Associated Press has learned.
Meanwhile, an American subsidiary, CT&T United, is in the process of separating from Seoul-based CT&T and hopes to take on North American ownership and attract more U.S. investors, James Park, vice president of the subsidiary, told the AP in a phone interview Thursday.
He said CT&T United is abandoning plans for facilities in Pennsylvania, but the company still wants to build in Hawaii and South Carolina. Park said the U.S. subsidiary hopes to raise $250 million to move forward with its plans.