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McAuliffe announces purchase of Hong Kong electric car company

Rosalind Helderman

Former Democratic gubernatorial candidate and national party chairman Terry McAuliffe is continuing his ambitious effort to prove he can create jobs in Virginia, with or without the governor's mansion. One of two major McAuliffe investment projects announced major progress late Sunday, as his green car company Greentech Automotive announced it has purchased EuAuto Technology Ltd., a Hong Kong-based company that makes and distributes electric cars.

With the purchase complete, McAuliffe could potentially bring EuAuto's design to the U.S. for manufacture. In a release that includes a congratulatory quote from no less a personage than U.S. Secretary of Commerce Gary Locke (it's a "win-win" transaction, Locke says), Greentech says the purchase will mean 300 jobs transferred to the U.S. and eventually 4,000 jobs in Mississippi, Tennessee and Virginia.

McAuliffe's other major Virginia business effort -- a bid to purchase the shuttered International Paper plant in Isle of Wight and convert it to a biomass energy plant -- is also very much alive.

Our colleague Amy Gardner first reported on McAuliffe's efforts to lure an electric car factory to Virginia way back in November. McAuliffe hasn't yet broken ground on the plant -- for one thing, it's not clear how many of those 4,000 jobs potential jobs will come to Virginia, as opposed to Mississippi, where the company has deeper ties.

But if McAuliffe makes another bid for governor in 2013 -- and make no mistake, from his frantic schedule of speeches in front of Democrats all across the state, he is clearly seriously considering it -- he will undoubtedly be accused of trying to buy the election with his considerable personal fortune. But if he successfully and personally brings jobs to depressed areas of the state, those charges will likely fall on ears both deaf and employed.

By Rosalind Helderman  |  May 17, 2010; 8:38 AM ET
Categories:  Rosalind Helderman , Terry McAuliffe  
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Comments

Hey, we all love T-Mac, especially T-Mac the businessman--but was he a former Democratic gubernatorial nominee, or a candidate to become the nominee?

Posted by: lindsaycurren | May 17, 2010 10:28 AM | Report abuse

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