Can Obama supporter and Kleiner Perkins Caufield & Byers partner John Doerr get along with ardent Obama critic and Texas oilman T. Boone Pickens? Electric car startup V-Vehicle Co. better hope so because the two dealmakers are among investors in the San Diego-based company.
Earlier in the week a Louisiana newspaper reported on an effort by local business people teaming with Kleiner Perkins partner Doerr to buy a former General Motors Corp. facility in Monroe with the intent of luring an electric car maker to the site. By Wednesday, the locals announced the plans to bring little known VVC to town.
While VVC is not as well known as Kleiner Perkins' other electric car startup Fisker Automotive Group Inc. or its rival Tesla Motors, the company evidently is associated with well-known industry designer Tom Matano, the man behind Mazda's MX-5 Miata. And while the startup isn't in Silicon Valley like its leading peers, it still has attracted well known Valley luminaries including Kleiner partner and former Sun Microsystem Inc. (NASDAQ:JAVA) CEO Ray Lane, who is chairman, and former Oracle Corp. (NASDAQ:ORCL) executive Frank Varasano, who founded VVC in 2006 and is CEO.
While Matano's best work might imply VVC will develop a third electric roadster to compete with Fisker and Tesla, an Associated Press story indicates the car will likely be a midsize vehicle that it hopes to put into production in 18 months, which is about the same time Tesla plans to release a similar-size sedan.
VVC's financing details were unavailable. - Matthew Wurtzel
See story from the New Star of Louisiana
See story from The Associated Press via CNBC
See earlier story from Dealscape
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With Pickens so strong on natural gas, I am a little surprised he is involved in electric cars as with V-Vehicle. Of course, I am saying that because most all I read these articles is "electric" in Fisker and Tesla. Press releases yesterday said nothing about "electric" cars. Please clarify.
Thanks much.
ron jones