Investor says it never made deal with ZAP cars

LEXINGTON, KENTUCKY - The lending subsidiary of General Electric Co. says it never made a commitment to a company that wants to build an electric car manufacturing plant in Simpson County.

A spokesman for GE Capital said there was no financial commitment made to California-based ZAP or its partner, Integrity Manufacturing of Shepherdsville.

Stephen White says reports that Norwalk, Conn.-based GE Capital had pulled out of the project are false because GE Capital had not made a proposal to fund it.

White told the Lexington Herald-Leader and The Associated Press there was never a signed contract.

Randall Waldman, chief executive officer of Integrity, told the Herald-Leader he thought he had a verbal commitment for $125 million from GE Capital for the project and was later told there would be no funding.

Gov. Steve Beshear said in August the proposed plant would employ 4,000 workers.


in Year