Tuesday, December 21, 2010

GM Funding New EV Company

General Motors (GM) and Bright Automotive have struck a deal to develop plug-in hybrid electric vehicles together. Bright Automotive is the first recipient of funding from General Motors Ventures L.L.C., its venture capital subsidiary formed in June 2010. Bright will receive a $5 million investment from General Motors.

Jon Lauckner, president of GM Ventures said, "Funding early-stage start-up companies is a new way of doing business at GM to accelerate the introduction of innovative technology to support our core automotive business and give us a competitive advantage."

Bright Automotive is marketing the IDEA, a light-duty hybrid-electric commercial vehicle for business and government fleets. Like GM's Volt, the IDEA can travel 40 miles on emissions free electric mode before switching to its 36 MPG hybrid engine.

Besides having a world leader as a strategic partner, the IDEA now has the financial support it needs to move towards mass production.

Related Posts
Growing Demand for Greener Vehicles
The Value of Electric Vehicle Subsidies
2010 Automotive X Prize and Incentives to Innovate
BMW Investing in EVs
Mercedes-Benz Hybrids and Electric Cars
The Chevrolet Volt Versus the Nissan Leaf
Volt Wins Green Car of the Year
Competition in the 2011 Greener Car Market
Competition in the Green Vehicle Market
EPA's New Mileage Estimates for the Volt and the Leaf
House Lawmakers Oppose New Car Ratings
America's New Car Ratings: Consumer Concerns and Marketing
US Government's New Car Ratings
Improving Battery Technology Key to Greener Cars
Innovative Business Models are Driving the Auto Sector
Electric Vehicles Need New Business Models
Greening Vehicle Fleets
Germany and the Global Competition for EV Supremacy
Volkswagen's Dirty Automotive Brands
Porsche and Audi`s Greener Vehicles
Volkswagen's Greener Vehicles
European Greener Cars
Electric Vehicles Combat Global Warming
Electric Vehicles Combat Smog
Electric Vehicle Bill Passes Energy Committee
Governments and the Growth of EVs
Government Investment Fuels Greener Vehicles
Private Public Cooperation Behind SA Joule
Greener Commercial Transport Vehicles
Electric Vehicles Will Drive Demand for Lithium
Electric Vehicle Battery Technology Obstacles and Solutions
American Electric Vehicle Strategy
Beneficiaries of Chinese Government Investment in Electric Vehicles
Chinese Government Investment in Electric Vehicles
Beneficiaries of US Government Investment in Electric Vehicles
Government Investment Fuels Greener Vehicles
GM Breakthrough Reduces Emissions
Toyota and Tesla Making Electric Sedan
Toyota's Greener Vehicles
Honda's CR-Z and Second Generation Hybrids
Honda's Greener Vehicles
GM's Greener Vehicles
Ford's Greener Vehicles
Korean (Hyundai & Kia) Greener Cars
Nissan's Greener Vehicles
Jaguar XJ: A Greener Luxury Car
E-Range: World's First Fully Electric 4x4
The FIAT 500 is Coming to America
The Winners of the UK's What Car? Green Awards 2010

No comments: