Clinton Fundraiser Seeks $1B to Launch Electric Cars in U S …

23 Фев 2014 | Author: | Комментарии к записи Clinton Fundraiser Seeks $1B to Launch Electric Cars in U S … отключены
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Terry McAuliffe’s profile fundraising efforts to have been in the political But now the former Virginia gubernatorial and Democratic National Committee a longtime ally of the Clintons, the Financial Times that he to raise up to $1 billion to []

Terry highest profile fundraising to date have been in the arena. But now the former Virginia candidate and Democratic National chair, a longtime ally of the tells the Financial Time s he hopes to raise up to $1 billion to several electric vehicles for the market.

In the latest step toward ambitious goal, GreenTech — a holding company chaired by — has reportedly paid $20 million for the Kong-based maker of an electric dubbed the MyCar. Built in China and sold in Europe, the is an electric two-seater that Automotive aims to roll out in 2011.

Maxing out at 40 miles per the MyCar is what’s called a electric vehicle, or NEV and is not meant for driving. McAuliffe told Reuters in a interview that GreenTech expects to sell the model for $13,000-$15,000 on the U.S. market.

GreenTech Automotive emerged year following a feud the co-founders of a company called Kinetic Automotive. Former Charles Wang and Benjamin over the Hybrid Kinetic (among other issues) in court last summer before a settlement and forming two green car McAuliffe chairs the one headed up by

Before their split, and Wang had been planning to funds through a government known as EB-5, which foreign investors a way to earn a by investing in U.S. companies. According to a from the Alabama Press-Register in still planned to utilize “a program that grants permanent resident status to investors who invest at least in businesses that create at 10 jobs.” GreenTech said in an announcement fall that funding for a hybrid development and manufacturing in Tunica County, Miss. come through the Gulf Coast Fund and “strategic investments.”


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The company aims to eventually a range of highway capable and electric vehicles, and according to its has partnered with “leading automotive technology companies to develop the core technology.” says it has completed four to date and hopes to start in the U.S. within the next few

Photo courtesy of GreenTech

Related research on GigaOM Pro required):

To learn about some of Silicon Valley’s venture capitalists are investing and areas of technology they will be ripest for entrepreneurs to coming out of the economic downturn, out the “Venture Catalysts” panel at our event June 23-24 in San

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