£3m London Taxpayer Loss Feared as Electric Vehicle Company Breathe Collapses

The fund has now collapsed, and the London taxpayers may face a loss of £3m.

The MEEF was set up to provide debt and equity to small business-owners and has invested in 17 projects across London, mobilizing over £380m of investment.

The mayor's spokesperson stated that the loss is less than 1% of the total funding mobilized by the fund and that the appointed administrators are working to complete a sale of the business and repay the debt.