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General Motors is ramping up the Chevy Volt
Posted Oct 25th 2007
Venture capital is flowing, engineers are chomping at the bit and layman sources claim that mechanical components of the Chevy Volt are already being road tested on the streets of Detroit. General Motors (NYSE: GM) is not letting anything get in the way of its plans to place a successful electric car on the streets of America and the world by 2010. A report by RedHerring (see below) outlines the broad and powerful collection of top tier companies which are coming together to help GM bring its mission to fruition.
Two new research projects targeted towards electric car development were recently announced by General Electric (NYSE: GE) and are specifically geared towards the needs of the Chevy Volt. GE has been asked to design high density electric capacitors and hybrid drive train components in pursuit of our first generation of truly plug-in electric cars. It would seem that GM, GE and the Department of Energy are not willing to settle for an automobile with simple hybrid status. The goal would appear to be full blown electric automobiles at a price within reach of the public. Once the car is built, add the current advances in solar technology and you'll have an automobile that can be charged from a solar powered battery array at home.
Given the fact that Eaton Corp. (NYSE: ETN) has designed hybrid drive trains which are already making a successful showing under the banner of United Parcel Service (NYSE: UPS) and which may be capable of reaping energy savings of as much as 40% compared to conventional vehicles, it shouldn't be too difficult for General Electric to take the energy transference technologies, which it successfully built into locomotives, and adapt similar concepts to the humble automobile.
This entire scenario shines with the "don't tell us it can't be done" attitude, which is endearing General Motors to an American public desperately in need of a new industrial hero. I for one won't even need GM to have 100% success with the Chevy Volt in order for me to be proud of the company. General Motors has shown me a level of guts, class and determination that I have seen coming from very few American manufacturers for quite some time.
Posted Oct 25th 2007
Venture capital is flowing, engineers are chomping at the bit and layman sources claim that mechanical components of the Chevy Volt are already being road tested on the streets of Detroit. General Motors (NYSE: GM) is not letting anything get in the way of its plans to place a successful electric car on the streets of America and the world by 2010. A report by RedHerring (see below) outlines the broad and powerful collection of top tier companies which are coming together to help GM bring its mission to fruition.
Two new research projects targeted towards electric car development were recently announced by General Electric (NYSE: GE) and are specifically geared towards the needs of the Chevy Volt. GE has been asked to design high density electric capacitors and hybrid drive train components in pursuit of our first generation of truly plug-in electric cars. It would seem that GM, GE and the Department of Energy are not willing to settle for an automobile with simple hybrid status. The goal would appear to be full blown electric automobiles at a price within reach of the public. Once the car is built, add the current advances in solar technology and you'll have an automobile that can be charged from a solar powered battery array at home.
Given the fact that Eaton Corp. (NYSE: ETN) has designed hybrid drive trains which are already making a successful showing under the banner of United Parcel Service (NYSE: UPS) and which may be capable of reaping energy savings of as much as 40% compared to conventional vehicles, it shouldn't be too difficult for General Electric to take the energy transference technologies, which it successfully built into locomotives, and adapt similar concepts to the humble automobile.
This entire scenario shines with the "don't tell us it can't be done" attitude, which is endearing General Motors to an American public desperately in need of a new industrial hero. I for one won't even need GM to have 100% success with the Chevy Volt in order for me to be proud of the company. General Motors has shown me a level of guts, class and determination that I have seen coming from very few American manufacturers for quite some time.
GM Battery Partner Gets $30M Jolt
on 24 October 2007, 13:19
by Ken Schachter
A123, the company that could hold the keys to General Motors’ plans to market a plug-in hybrid by 2010, has pulled in $30 million in fresh venture capital.
The funding round, led by CMEA Ventures, was joined by A123’s list of blue-chip corporate backers as well as previous investors North Bridge Venture Partners, Sequoia Capital, Ventures, FA Technology Ventures, Carruth Management, and OnPoint, the venture-capital unit of the U.S. Army. A company representative Wednesday said the latest round brought A123’s total funding to $132 million.
Watertown, Massachusetts-based A123 plans to build new manufacturing sites as it enters the automotive market. GM, which remains the world’s largest auto maker, has made a highly publicized bet on the Chevy Volt plug-in hybrid. The company hopes to leapfrog the popular Prius hybrid from rival Toyota, but the batteries that could give the Volt the needed range have yet to be developed. (NOTE: not entirely true. the form factor is still up for grabs, but working battery modules were shipped to GM over a week ago)
Corporate investors in A123 include Procter & Gamble, Alliance Capital, Motorola, Qualcomm, and General Electric, which Wednesday announced two research projects worth $6.8 million with the Department of Energy to accelerate the development of plug-in hybrids. The projects call on GE to develop hybrid drivetrain motors and high-energy capacitors, which can temporarily store a charge.
In August, GM and A123 announced a co-development deal for battery cells to power next-generation electric plug-in and fuel cell vehicles. GM has been airing TV commercials for the Chevy Volt even though the car remains on the drawing board.
on 24 October 2007, 13:19
by Ken Schachter
A123, the company that could hold the keys to General Motors’ plans to market a plug-in hybrid by 2010, has pulled in $30 million in fresh venture capital.
The funding round, led by CMEA Ventures, was joined by A123’s list of blue-chip corporate backers as well as previous investors North Bridge Venture Partners, Sequoia Capital, Ventures, FA Technology Ventures, Carruth Management, and OnPoint, the venture-capital unit of the U.S. Army. A company representative Wednesday said the latest round brought A123’s total funding to $132 million.
Watertown, Massachusetts-based A123 plans to build new manufacturing sites as it enters the automotive market. GM, which remains the world’s largest auto maker, has made a highly publicized bet on the Chevy Volt plug-in hybrid. The company hopes to leapfrog the popular Prius hybrid from rival Toyota, but the batteries that could give the Volt the needed range have yet to be developed. (NOTE: not entirely true. the form factor is still up for grabs, but working battery modules were shipped to GM over a week ago)
Corporate investors in A123 include Procter & Gamble, Alliance Capital, Motorola, Qualcomm, and General Electric, which Wednesday announced two research projects worth $6.8 million with the Department of Energy to accelerate the development of plug-in hybrids. The projects call on GE to develop hybrid drivetrain motors and high-energy capacitors, which can temporarily store a charge.
In August, GM and A123 announced a co-development deal for battery cells to power next-generation electric plug-in and fuel cell vehicles. GM has been airing TV commercials for the Chevy Volt even though the car remains on the drawing board.