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A Reuters story, which is largely based on translated reports from Chinese media, details exiled Chinese auto tycoon Yang Rong's plans to establish an electric car startup in the U.S. with headquarters in California and manufacturing in Alabama. So where's the Kleiner connection? Reuters explained: "Support for the plan had come from former U.S. Vice-President Al Gore, one of the world's most visible environmental activists and now a partner at U.S. venture capital firm Kleiner Perkins Caufield & Byers, said the source, declining to be more specific." We'll be watching to see if Kleiner Perkins is in fact investing in the project, lending logistical support or simply moral support to Rong's efforts. If Forbes' 2001 list of the wealthiest 100 Chinese, which placed Rong as third with a personal fortune of $840 million, is correct, then he probably would not need Kleiner's money to get the wheels rolling on his venture -- but Gore's and Kleiner's combined cache are nothing to honk at. See story about Rong from Reuters
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July 9, 2009 9:53 PM
From: ini,
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Posted on:
August 16, 2009 2:54 AM
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Silicon Valley venture firm Kleiner Perkins Caufield & Byers has a strong track record when it comes to creating and recreating industries -- having funded Amazon.com Inc. (NASDAQ:AMZN), Genentech Inc. (NYSE:DNA), Google Inc. (NASDAQ:GOOG), Intuit Inc. (NASDAQ:INTU), and Sun Microsystems Inc. (NASDAQ:JAVA), among many others. In recent years, general partner John Doerr has made the firm's primary goals to be a leader in the so-called green economy. To that end, the firm is already an investor in two electric car startups: Fisker Automotive Group Inc. and just 
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I believe ZAP could become a major player with the partnerships they have been forming. They just announced a distribution agreement with ABAT for advanced lithium battery technology which will improve the range of their vehicles.