A Loveland car company is not only hoping to get its hands on some of the president’s incentive money, but also incentives from the city of Loveland.

Lightning Hybrids is developing a 100-mile-per-gallon car that will be unveiled Wednesday at the Denver auto show. The car is not finished, not even painted, but Chief Executive Officer Dan Johnson said it will be done by the start of the show.

“We are jazzed, we are really jazzed,” said Johnson.

The company is unveiling the LH4, a biodiesel, hydraulic hybrid.

“It’s a sports sedan, very practical, four-seater, and has some storage,” said Johnson.

The company is also building the LH3, a three-wheeled version that also has four seats.

The hybrid drivetrain uses two different power sources, biodiesel fuel and hydraulics, which helps with the acceleration.

The company hopes the city of Loveland is willing to invest in them with a $100,000 cash incentive -- $50,000 for a performance agreement and $50,000 after the company hires 25 employees.

“It is very critical for us to retain jobs,” said Betsey Hale, of the city of Loveland. “80 percent of new jobs will come from existing employers.”

Lightning Hybrids expects to create 338 jobs by 2014.

Loveland City Council has a study session Tuesday night to discuss the incentive money.

The LH3 is expected to be on the market by the spring of 2010 and the LH4 in the spring of 2011. The cars will cost $50,000-$60,000.

Johnson said his first task after the auto show is working on drivetrains that will be available to be retrofit on trucks and taxicabs.