Tuesday, August 3, 2010

GM Invests In Electric Car Startup

From Financial Post

GM Invests In Electric Car Startup

Soyoung Kim, Ben Klayman, Reuters · Tuesday, Aug. 3, 2010

DETROIT -- General Motors’ venture capital unit is buying a minority stake in electric car startup Bright Automotive to advance the development of fuel-efficient vehicle technologies.

GM and Indiana-based Bright Automotive said on Tuesday they have agreed to pursue a strategic partnership under which GM will invest US$5-million to help accelerate Bright’s production of its IDEA plug-in hybrid commercial vehicle.

GM is also launching this year its highly anticipated Chevrolet Volt electric car for the consumer market, a program it started four years ago in part to shake an association with gas-guzzling trucks and to show it could compete with the likes of Toyota Motor Corp on hybrid technology.

The Bright deal marks the first investment by General Motors Ventures LLC, a US$100-million venture capital arm set up by the U.S. automaker in June with the aim of investing in auto and transportation start-ups in areas such as lightweight materials, clean engine technology and on-board electronics.

“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,” said Jon Lauckner, president of GM Ventures.

“In this case, our funding of Bright Automotive will accelerate the introduction of advanced propulsion and lightweight technologies in the commercial vehicle market,” he added.

The companies signed a memorandum of understanding in July. GM Ventures provided funding to Bright this week, and the companies intend to complete the formal agreements later this year.

Upon completion of the agreements and other terms, GM Ventures will have a minority stake in Bright, and Bright will have access to GM technologies, and advanced engine and transmission systems, for its vehicle. The size of the stake was not disclosed.

“With this deal, Bright gets financial support that puts us on the fast-track toward mass production of the IDEA,” said Reuben Munger, Bright chairman and chief executive.

Bright said the investment by GM Ventures will allow Bright to begin ramping up the development of the production program for the IDEA in the current quarter. The IDEA can operate on electric power for 40 miles before switching to hybrid mode where it would get an estimated 36 miles per gallon.

Last month, GM said it would offer the Volt starting at US$41,000 before federal tax credits. It is designed to be recharged overnight for about 40 miles of electric driving and will also include a small gas engine expected to give the vehicle a total range of about 340 miles.

The U.S. automaker expects to produce 10,000 Volts for the 2011 model year and about 30,000 for 2012.

Tesla Motors, a Silicon Valley start-up that went public in June, has the only highway-ready electric car now on U.S. roads with the US$109,000 Roadster. It also formed an alliance to develop electric vehicles with Toyota, which is planning to bring a plug-in hybrid to market in 2011.

Nissan Motor Co’s battery-powered Leaf claims a driving range of 100 miles and has a U.S. retail price of US$32,780, while Honda Motor Co has said it plans to launch a plug-in hybrid and battery electric model in 2012.

Reuters

1 comments:

Pedro Garcia Millan said...

HERE'S A DIFFERENT KIND OF REALITY IN THE U.S.A. THAT PEOPLE TURN A BLIND EYE TO BUT AFFECTS THEM DAILY AND WILL EVENTUALLY KILL SOCIETY AS YOU & I BOTH KNOW IT UNLESS WE STAND UP & STOP THEM!
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PART 1

THE U.S. CITIZENS HAVE THEIR BRAINS SCRAMBLED VIA FLUORIDE IN THE WATER & ALL THE ASPERTAME THEY CONSUME IN POP DRINKS, BUT THERE IS MORE.....

You see, Bush Sr., & Jr., Clinton, Reagan, Carter, Obama, Ford...ALL these presidents are in what is dubbed a SECRET SOCIETY called The Moloch Axis Demoniacs (i coined the phrase myself...Dr. A.P. and i don't use my full name because WHO knows WHAT sinister crap they'd do to me IF they found out?) or M.A.D. for short.

These people, and there’s obviously more of them (Cheney, Rumsfeld etc.) than the ones mentioned, control KEY positions not just in government, business, society etc. They are GRADUALLY erroding MORAL/FAMILY VALUES in society. SO gradual that it's like hairloss! You see it ever so slowly and you have to be a keen eye to boot!

For example, women in the workforce...they go to work so WHO takes care of the kids? Some goofs getting minimum wage who could care less about those kids. Family split apart because NOW both parents work and the cost of life itself purposely increased to perpetuate this separation. Kids grow up with NO moral/family values. Repeat this a few generations and before you know it, you have mindless zombies that don't know RIGHT from WRONG! Easily programmable to get in debt, be anti-christ-like etc.

Also, the coming mark of the beast 666. Remember HOW it all used to be ca$h only? Then they introduced checks, then credit cards to get yourself in serious financial troubles, then ATM cards, and now that STUPID SWIPE-PASS card. What is the purpose of all this? To get people broken down enough and stupid enough through putting FLUORIDE in the drinking water and ASPERTAME in soda drinks/pop cans so we ALL can accept the 666 chip. So NOBODY can buy or sell or own ANYTHING lest he has the mark of the beast (anti-christ) which is 666.

I can go on for days & days as to the subtleties and more examples but i think you all SEE the points i make here. It's all SUBTLE and GRADUAL negative changes day in & day out that these M.A.D. demons (because they are demonic and have placed their trust in demons in exchange for their souls and material possessions here on earth) are passing into laws in Canada, USA, UK, SPAIN, FRANCE etc.

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