WASHINGTON, D.C. --- Bright Automotive, a private startup company based in Indiana, last week unveiled a plug-in hybrid commercial van that the company says can travel 100 miles on a gallon of gasoline.
The van, called Idea, is designed to carry up to 2,000 pounds.
Bright Automotive said it is in the latter stages of applying for a $450 million government loan, according to Dow Jones Newswires.
Congress has approved loaning $25 billion to help automakers build or retool their plants to manufacture advanced-technology, fuel-efficient cars. Bright Chief Executive John Waters said his company is finalizing "very positive" discussions with the Department of Energy, the agency responsible for disbursing the loans, Dow Jones Newswires reported.
Bright Automotive hopes to use the funds to build a plant that can manufacture 50,000 of the vans a year starting in 2013.
To learn more about the van, visit www.brightautomotive.com.