September 18th, 2009
VCs find living dinosaurs...in Detroit
Despite the billions in loans and bailouts and the much abllyhooed re-org of Chrysler and GM, some prominent Silicon Valley investment leaders find Detroit’s auto industry hopeless and heedless of the needed innovation. They see a new American auto industry far away in miles and mentality from Detroit once-bug-three.
Look at some of the names of the new generation of vehicle makers and support services:
Tesla–California
Fisker–California
Brammo–Oregon
Better Place–California
Chery–China
Tata–India
BYD–China
Th!nk–Europe
Zenn–Toronto, Canada
If you check this plug-in tracker, you will see that Detroit is not only financially crippled, it is far from leading the world toward electric vehicles. If high fuel prices drive more drivers to plug-in cars, it ia NOT going to be any help to Detroit’s automakers.
A newsman since 1969, Harry Fuller has worked for CBS, ABC, CNBC Europe, CNET and was founding news director at TechTV. See his full profile and disclosure of his industry affiliations.
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