article thumbnail

GM and PHEV Maker Bright Automotive Announce Strategic Relationship; GM Ventures Funding

Green Car Congress

Bright Automotive, the developer of the purpose-built, plug-in hybrid IDEA ( earlier post ), and General Motors Co. Funding through GM Ventures will allow Bright to begin ramping up the development of the production program for the IDEA in the third quarter of 2010. The companies signed a memorandum of understanding in July.

article thumbnail

Startup Bright Automotive Shuts Down, Slams DoE Loan Process

Green Car Reports

Startup plug-in vehicle maker Bright Automotive announced today that it is closing down. While General Motors had invested $5 million in the company, Bright had relied on the hope that the U.S. Department of Energy would grant it low-interest loans under the advanced-technology vehicle manufacturing program.

article thumbnail

Bright Automotive Applies for $35M in Stimulus Package Grants to Accelerate Production of PHEV

Green Car Congress

Bright Automotive has applied for $35 million in government grants to accelerate the production of its plug-in hybrid the IDEA ( earlier post ), and to deliver battery solutions to the industry through its engineering services arm. The company continues to work with the Department of Energy in support of its application.

article thumbnail

PHEV conversion company Echo Automotive completes $3M financing, joins CALSTART

Green Car Congress

Echo Automotive, Inc., Echo’s Chief Technology Officer is John Waters, the founder & CEO of Bright Automotive ( earlier post ). The company is targeting Class 1-5 fleet trucks, and has entered a service agreement with Meineke Car Care Centers, Inc. The terms of this note include conversion features at $0.55

Financing 218
article thumbnail

Companies in ElectricTransportation Value Chain to Form Electrification Coalition

Green Car Congress

Carlos Ghosn, President & CEO, Nissan Motor Company, Ltd. Reuben Munger, Chairman, Bright Automotive, Inc. Seifi Ghasemi, Chairman & CEO, Rockwood Holdings, Inc. Molinaroli, Chairman, Johnson Controls-Saft and President, Johnson Controls Power Solutions. Frederick W. Vieau, President & CEO, A123 Systems, Inc.

article thumbnail

Echo Automotive Fails: Bolt-On Plug-In Hybrid Kits Used Bright Technology

Green Car Reports

Starting a company is tough; starting a company in the green automotive field may be even tougher. So it seemed like the engineering team from defunct startup Bright Automotive, once granted investment by GM, might have a second chance to see their technology on the road.

article thumbnail

DoE Dings Loans For Startup Carbon Motors' Police Cruisers

Green Car Reports

Log one more startup car company the U.S. renamed NextCar), Aptera Motors, and Bright Automotive is Carbon Motors of Connersville, Indiana. Department of Energy has declined to fund. The latest entry on the lengthening list that includes Virtual Vehicles Co.

Carbon 99