#1 out of 196.41%
business1h ago
Michigan loaned $35M to mobility center. Debt could cripple it, boosters say
- Michigan seeks $35 million loan repayment from the American Center for Mobility, jeopardizing the nonprofit test site.
- The ACM argues the loan was never meant to be profit-driven but to foster a nonprofit, open-source industry testing environment.
- Negotiations continue with the MEDC as legislators weigh potential forgiveness or debt restructuring.
- State funding has supported ACM since 2016, with the aim of bolstering Michigan’s mobility industry.
- ACM's test track remains a national asset, with collaborations involving Toyota and universities.
- Some lawmakers question subsidy spending amid broader cuts to MEDC programs in the 2026 budget.
- ACM leadership credits Sarkar’s prior direction for navigating tech shifts and funding changes.
- Michigan says the ACM supports its mobility ecosystem, including hydrogen, gas tech, and EV charging work.
- ACM plans to hire a new CEO as leadership transitions occur amid strategic shifts.
- The ACM’s broader mission includes supporting national mobility research and testing within a public-private framework.
Vote 0
