CalCars, the non-profit founded in 2002 to advance the development of plug-in hybrids (PHEVs), has decided to convert to a for-profit company that actually builds commercial products.
As envisioned, the new company will deliver PHEV conversions to fleets and individuals; work on original designs; and license its intellectual property.
CalCars founder Felix Kramer laid out the basics in a post on VentureBeat.
How can we go further? Wise voices have long urged us to start a company. “Change the auto industry by proving your solution can make money.” It helps to have people like top VC John Doerr tell us, “Plug-in hybrids are a really big deal. They are practical, profitable and urgently needed.”
So now we want to launch an ambitious for-profit. We’re talking with other leading PHEV innovators about combining talents and acquiring funding to operate in the high-stakes world.
We’ve started evaluating potential partners and markets. We’re talking with angels and VCs about borrowing an entrepreneur-in residence, helping to recruit auto industry veterans and getting seed funding. We try to involve people who’ve already made their fortunes and are looking to build useful profitable companies. We invoke the spirit of Steve Jobs’ recruitment pitch, “Do you want to sell sugar water for the rest of your life—or do you want to change the world?”