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Automotive Venture Capital
One of the most important trends in today’s automotive industry is producing electric cars. This type of cars offers a lot of advantages, first of which we can name its ECO nature. Electric cars do not pollute, they protect the environment and can help us breathe a cleaner air. But, let’s not forget the financial aspects, as electric cars are also an invention that comes as the result of the oil crises. Not only that the oil reserves are leaking-off, but they are also the subject of many political interests and fights. In order to avoid having to deal with the crises that will hit the oil industry, some producers started creating electric cars. Unfortunately, they are still far from monopolizing the automotive market and may continue to be in this situation for a long time from now as the prices for electric cars are quite high and their performances are still weak.
But, we are happy to see that Coda Holdings Inc., one of the most important electric cars producers, has just received an amount of $76 million in venture capital from VentureWire, which will help them release their $45,000 sedan in the year to follow. Although Coda had intended to release this new electric sedan model ahead of their competition, they decided to continue developing the car in order to make this model the best on the market. The amounts raised through venture capital will help them improve the car’s 34 kilowatt-hour battery and its active thermal management for the battery, which increases performance in hot and cold weather. They also want to adjust its drag force and its full-sized trunk. All these features will help them place their car on the first position in the electric automotive market, ahead of the Leaf of Nissan Motor Co. and the Chevy Volt of General Motors Co. Let’s only hope that the electrical automotive market will become as competitive as for the cars to become accessible to the large public, which could only enlighten the environment and our health. In order for this to happen, more venture capital investors should focus upon supporting this new developing branch of the automotive industry.