Our failing American automobile industry is receiving money from the government while hybrid and electric vehicle manufacturers are receiving funding from the VC's.
Bright Automotive Inc, based in Indiana, today has raised $11 million out of $17 million in Series A funding. Its listed shareholders are White Pines Partners and Duke Investments
With their tagline, ‘Decarbonizing transportation,’ Bright Automotive says, they are “transforming the automotive industry and making America stronger.” The company, which launched in January of 2008, is building hybrid automotive engines that will travel 100+ miles per gallon. They are also building electric vehicles.
Bright Automotive, will unveil their technologies on May 24th of this year at the Electric Vehicle Symposium in Norway.
