13 Nov '11, 9pm

A requiem for their electric dreams

SINGAPORE - Imagine building cars out of a workshop the size of a three-room HDB flat. That was what Mr Clarence Tan, 28, planned to do in 2008, after he had invested S$250,000 to set up The Green Car Company (TGCC). His dream was to manufacture 2,500 two-seater, air-conditioned electric cars a year, starting from last year. Three years on, TGCC did not make a single car. The project has since been shelved. Mr Tan, who is now focusing on his existing robotics business, is not the only entrepreneur who had his grand electric vehicle (EV) dreams dashed: The same year that Mr Tan set up TGCC, Mr Lim Kian Wee, then 36, reportedly quit his S$200,000-a-year engineering job, liquidated his investments and took out his retirement savings to start green technology firm Ample. Mr Lim had hoped to raise some US$40 million (S$51.7 million) in two years to develop an EV with a range of...

Full article: http://www.todayonline.com/Singapore/EDC111114-0000005/A-...

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