Tom Barlow
Daily Finance
Jun 17, 2009
Update: Gov. Jindal has just announced that the car company mentioned below is V-Vehicle Company (VVC), headquartered in San Diego.
In the midst of the worse automotive industry crisis in a generation, Louisiana Gov. Bobby Jindal is expected to announce today that a new car company will build an almost one million square-foot plant in Monroe, in the northern part of the state. The company, identity to be revealed, is rumored to be planning to produce high-mileage, gas-powered automobiles.
Funding will come at least in part from venture capital company Kleiner Perkins Caufield & Byers, and readers might recognize another name that recently joined the company as a partner: Al Gore. KPCB, which has formed an alliance with Gore’s Generation Investment Management, specializes in green and cutting-edge tech investments. Looking at the partners, I would expect that the tech behind this new company must be a breakthrough; otherwise, why would it back a car that does not use electricity, fuel cells, or a hybrid system?
KPCB is already in the car business as a major investor in Fisker Automobile. Fisker is preparing to bring the Karma to market, a top-end hybrid sports car that could get up to 100 mpg running on a hybrid system. The car will retail for $87,900 and top out at 95 mph — not very spirited for someone who feels the need for speed, but perfect for someone who wants to send the message that they are green, rich and mellow.
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