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Angeleno Group Leads $15M Investment in Miles Electric Vehicles
22 February 2008
Miles Electric Vehicles announced a $15-million investment round led by the Los Angeles-based private equity fund, Angeleno Group, with participation from existing investors. Funds will be used to advance the development of the lithium-ion powered Miles XS500 highway-speed sedan, and to expand its presence in the low speed electric vehicle market. (Earlier post.)
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| The XS500. |
The Miles XS500 is planned to have a top speed of more than 80 mph and a range of more than 120 miles on a single charge. The company is now targeting the introduction of the XS500 in late 2009.
Miles currently markets a line of low-speed electric cars and trucks that combine US-built built motor and controller technology with Chinese manufacturing and advanced battery production.
February 22, 2008 in Brief | Permalink | Comments (2) | TrackBack (0)
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Posted by: Steven Burnham | March 12, 2008 at 05:48 AM
It is strange the way investing works, I have developed a thermoelectric generator that can be retrofitted to any electric or hybrid vehicle that in tests gives huge increases in range, as in an electric scooter we tested from the factory it got 40 miles on an 8 hour charge after retrofit of our unit it made over 1200 miles and still had 55% battery capacity. The short of it is we can't find an investor to get it off the ground, absolutely not one investor has an interest.
Posted by: Steven Burnham | March 12, 2008 at 05:49 AM
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It is strange the way investing works, I have developed a thermoelectric generator that can be retrofitted to any electric or hybrid vehicle that in tests gives huge increases in range, as in an electric scooter we tested from the factory it got 40 miles on an 8 hour charge after retrofit of our unit it made over 1200 miles and still had 55% battery capacity. The short of it is we can't find an investor to get it off the ground, absolutely not one investor has an interest.