GreenTech Automotive Files for Bankruptcy

In spite of automotive staffing and growth taking place nationwide, that sadly has not been the happy ending for GreenTech Automotive. The Mississippi-based green car company has now filed for Chapter 11 bankruptcy. The company, known for its MyCar, a two-seat electric car, reportedly owes over $60 million to creditors. The company was founded in 2009, partly by Former Virginia Gov. Terry McAuliffe.


  • The company earned over $141.5 million in initial investments through the EB-5 program in 2009 for its startup.
  • McAuliffe severed ties with the company in 2013.
  • The company claims numerous lawsuits help lead to its demise.

McAuliffe has reportedly offered no comment.