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Study finds California captured 69% of global venture capital investment in EVs in 1H 2011

A new report prepared by Collaborative Economics and produced by the organization Next 10 finds that California took in $467 million in global venture capital (VC) investment in EVs (69% of total dollars) in the first half of 2011.

The report, Powering Innovation: California is Leading the Shift to Electric Vehicles from R&D to Early Adoption, tracks key indicators to assess opportunities and obstacles for California in the EV sector.

Among the findings:

  • In 2010, California accounted for 80% ($840 million) of total US and 60% of total global venture capital investment in EV-related sectors.

  • In the first half of 2011, California attracted 69% of global VC investment in EV-related sectors and 74% of United States VC investment in EV-related sectors ($467 million).

  • California and Michigan rank first in total EV technology patents in the US, each generating 300 patents between 2008-2010. Battery patents dominate California EV patents (86% of all patents are for battery technology, from 2008-2010).

  • California’s EV industry increased from 740 jobs in 1995 to 1,790 in January 2010. The Los Angeles and Silicon Valley areas together make up 47% of the state’s EV employment.

  • California ranks first in the nation in total charging stations (609) and first in the nation per capita (16.3 charging stations per million residents).

  • California ranks first in the country in total number of electric vehicles and hybrid vehicles.

Comments

HarveyD

California may be the State with more progressive people with the least resistance to the introduction of new technologies and specially electrified vehicles. More batteries and BEVs mass production should be done there.

Dave R

CA may have the most charging stations, but it still doesn't have any public access DC quick charge charging stations... Oregon, Washington, Tennesee and Texas are winning there.

HarveyD

Spill overs from California to Oregon and Wash states? Tenn and Texas must be exceptions.

Reel$$

How big is the demand for DC quick charge at the moment?? Demand drives infrastructure - usually. But congrats to Cali for capturing imagination and $$ for new ideas. Cali will remain a leader in innovation and new auto design especially following intro of Model S from Tesla.

Mr Bean

(a) VCs are lazy, they like to invest locally. It saves them time and gives them more control over their investments. (b) A lot of VCs are based in California.

That alone explains a big part of the report's findings.

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