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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 BrightAutomotive, once granted investment by GM, might have a second chance to see their technology on the road.
Echo Automotive, Inc., a developer of technologies enabling the conversion of existing fleet vehicles into plug-in hybrid electric vehicles, completed a $3-million financing with United Fleet Financing, LLC, through a private placement offering and mezzanine financing. —Dan Kennedy, Echo’s CEO.
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A largely unknown automaker BrightAutomotive of Anderson, Ind. will be unveiling its IDEA, a 100 miles-per-gallon plug-in hybrid electric vehicle. For years now, inventors and sellers of electric car conversion kits have been blasting traditional automakers for not providing the 100 m.p.g. The 100 m.p.g.
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