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September 21, 2009

Under the radar: What’s up with Phoenix Motorcars and bankruptcy?

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Filed under : Enviornment News

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Remember when Phoenix Motorcars was trying to get attention for their all-electric SUT with their friend Ed Begley, Jr.? Man that was a long time ago. We haven’t heard an official statement from the company since they declared “We have not abandoned the alternative fuels transportation space” back in April. One reason for the silence: the company was in bankruptcy.

We heard through the grapevine earlier this summer that Phoenix was out of bankruptcy, but repeated calls and emails to Phoenix to confirm or deny this report have gone unanswered. Phoenix has long billed itself as “Phoenix MC, Inc., a Delaware Corporation and a California based electric vehicle company doing business as ‘Phoenix Motorcars,'” but we got a tip recently that things may be different now. Anonymous sent us an email saying that “Did some research on Phoenix Motorcars. Looks like they (the assets and staff) were purchased by Al Yousuf LLC in August 2009. The new company is Phoenix Cars LLC in Delaware but still operating as Phoenix Motorcars in California. Rumor is that they are heading into stealth mode to finish their SUT and also develop a few new products.” We couldn’t verify this, but are kind of hoping that posting this will either prompt Phoenix to finally respond to our requests for information or maybe get some more information sent our way. Got some?

Dubai investor Eqbal Al Yousuf, who has also invested in Zap, has a history with Phoenix that dates back to at least 2007. Al Yousuf, who is president of Al Yousuf, LLC, was named to the Phoenix board in March 2008. Thanks to Anonymous for the tip!

Under the radar: What’s up with Phoenix Motorcars and bankruptcy? originally appeared on Autoblog Green on Fri, 18 Sep 2009 16:58:00 EST. Please see our terms for use of feeds.

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