An all-new American car company, backed by Texas billionaire T. Boone Pickens and headed-up by former Mazda designer Tom Matano plans to build environmentally friendly vehicles in Louisiana.
According to their press release, V-Vehicle Company, or VVC, which is headquartered in San Diego, will begin assembling new cars in Monroe, LA. The project is slated to 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.
At the company’s website, founder and CEO Frank Varasano said production could begin in 15 months.
“VVC will produce a high-quality, environmentally friendly and fuel-efficient car for the U.S. market,” the statement said. “The goal of the company is to provide the American buyer greater product value and a superior automotive experience.”
Louisiana Gov. Bobby Jindal said, “What we are here to officially announce today is not a typical economic development project. Most business recruitment projects for the state involve large, long-established companies building another plant similar to one they already have – similar to facilities that other companies in their industry already have. Those are great projects and we appreciate the jobs they provide, but today’s announcement is different.

LA Gov. Bobby Jindal announces the opening of VVC in Monroe.
“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. 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, as the company is also called, “wants to reestablish American leadership in the global automotive industry,” according to a Louisiana Economic Development (LED) info-sheet.
V-Vehicle was founded by ex Oracle Corp. executive VP Frank Varasano and is definitely not struggling to gather funds; it’s being financed by well-known California venture capitalists—including some also backing Fisker Automotive (Silicon Valley firm Kleiner Perkins Caufield & Byers)—along with T. Boone Pickens.
We haven’t yet seen pictures of the vehicle, but we do know that it was designed by Tom Matano, the ‘father’ of the original Mazda Miata. Matano also worked on the RX-7 and 929, and held positions at General Motors and BMW prior to that. He has most recently served as director of the school of Industrial Design at Academy Art San Francisco.
Construction and retooling for the 425,000-square-foot, former GM plant will begin later this summer.
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I have been seriously looking at these Chevy Equinox’s not just because of the increased HP out of a smaller V-6 (down to 3.0 liters from the ’09′s 3.4 liters), but also because it takes its styling cues from the Traverse, which has looked incredible since Day #1.
