JACKSON, Miss. (AP) — Electric car maker GreenTech Automotive has missed a debt payment to the state of Mississippi.
Mississippi Development Authority spokesman Jeff Rent confirmed Monday that the Tunica County company didn't pay $150,000 due June 30. That was the first payment on a $3 million state loan.
Rent says Mississippi is working with GreenTech to raise capital. Previously, GreenTech has raised money from Chinese people who can obtain U.S. residency by investing $500,000.
Rent says he doesn't know if Mississippi sent GreenTech a default notice. That would let the state demand all money back immediately and possibly seize GreenTech's property.
GreenTech didn't immediately answer requests for comment.
A 2015 report found a federal official broke ethics rules when he aided GreenTech's visas. Among former insiders is Terry McAuliffe, now governor of Virginia.
