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Electric Vehicles: Huge Potential for Venture Capital and Green Jobs

Electric Vehicle startups are raising billions of dollars, and creating thousands of green jobs. Optimism reigns despite the slowness of deployment of charging stations, and the troubles at A123 Systems and its repercussions for Fisker that are giving the industry an unjustified bad name (“loser”).

The list of start-up companies in this market is very long. The top 21 listed below have raised a total of $8 billion in private venture capital. They represent five industry segments: EV manufacturing, hybrid conversion kits, charging stations, batteries, and engines/transmissions technology.

Electric Vehicles

Tesla Model S
  • Tesla Motors -probably the most famous, builds luxury sedans. It’s a publicly traded company with a valuation of several $ billions. (over 200 job openings)
  • Fisker Automotive – luxury cars. Has raised over $1.4 billion in private equity, and has drawn $193 million from a US DOE loan.
  • Coda Automotive – sedans. Has raised over $200 million in private capital, and has obtained a $300 million loan for a joint venture with Chinese battery manufacturer Lishen Power Battery. (25 job openings)
  • Green Automotive Company – sedans and trucks.
  • Proterra – buses. Has raised over $50 million, including a recent $23 million round with GM’s participation. (16 job openings)

Charging Stations

Better Place Swapping Station
  • ChargePoint (formerly Coulomb Technologies), the largest with over 10,000 stations deployed. Has raised $100 million in private equity, and received a $37 million grant from the US DOE. (3 job openings)
  • Better Place, famous for its battery-swapping technology. Has raised $850 million in private equity.
  • ECOtality has received a $115 million grant from the US DOE (4 job openings)
  • eVgo, a subsidiary of electric utility NRG, just won a $100 million contract from the state of California

Hybrid Powertrain Conversion

XL Hybrids Powertrain
  • ALTe Powertrain Technologies has raised $20 million in private equity, and is setting up a $200 million joint venture in China to manufacture and sell its conversion powertrain in Asia. $70 million is slated for R&D at its US location.
  • XL Hybrids has raised $4 million in private equity. Johnson Controls is providing the batteries for the conversion kit. (5 job openings



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