Louisiana governor Bobby Jindal and Louisiana Economic Development (LED) Secretary Stephen Moret announced today that a new company called V-Vehicle Company (VVC), a San Diego based startup, has signed an agreement to assemble new “environmentally-friendly vehicles” in a vacant supplier plant in Monroe, La.

“VVC will produce a high quality, environmentally friendly and fuel-efficient car for the U.S. market. The goal of the company is to provide the American car buyer greater product value and a superior automotive experience,” LED said in a statement.

The project will create over 1,400 direct jobs at an average annual salary of nearly $40,000, plus benefits, as well as a capital investment of at least $248 million.

“Today, we are here to announce that through quick, aggressive action to pursue a transformative opportunity, we have a chance here in Louisiana to re-energize the entire U.S. auto industry, Jindal said. “Indeed, this project also has the potential to transform the entire Monroe area, and this project could be a game changer for the economy of Northeast Louisiana”

VVC is backed by Texas billionaire investor T. Boone Pickens. Mazda’s former design chief, Tom Matano, will design the cars produced by the company. No word on the technical-specs of the car VVC will produce.

- By: The Daily Auto Editor