In September 2013, AM General reached an agreement to purchase the United States Department of Energy's secured loan to the Vehicle Production Group (VPG). Prior to this, AM General acted as the sole vehicle assembler for VPG. As a result of this transaction, AM General created a wholly owned company, Mobility Ventures LLC, to operate the Mobility Vehicle-1 (MV-1) business and receive all VPG assets.
In September 2013, AM General reached an agreement to purchase the United States Department of Energy's secured loan to the Vehicle Production Group (VPG). Prior to this AM General acted as the sole vehicle assembler for VPG. As a result of this transacti,on, AM General created a wholly owned company, Mobility Ventures LLC, to operate the Mobility Vehicle-1 (MV-1) business and receive all VPG assets.