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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (579331)	8/3/2010 3:33:39 PM
From: tejek	Respond to of 1572335

Who said I was psychic?

To: Jim McMannis who wrote (579331)	8/3/2010 3:40:40 PM
From: tejek	Respond to of 1572335

GM buys into plug-in truck company Tuesday August 3, 2010, 11:23 am EDT General Motors and Bright Automotive, an Indiana company that plans to sell plug-in delivery vans, announced a strategic partnership Wednesday. Bright Automotive of Indiana plans to begin selling its van in 2012. Called the Bright IDEA, the van can travel up to 40 miles on electric power from a fully charged battery pack. For traveling longer distances, the van switches to a gasoline/electric hybrid mode in which it can get up to 36 miles per gallon, according to the company. GM's investment is the first by General Motors Ventures LLC, a subsidiary the automaker created to invest in auto-related start-up companies. "Funding early-stage start-up companies is a new way of doing business at GM to accelerate the introduction of innovative technology to support our core automotive business and give us a competitive advantage," said Jon Lauckner, President of GM Ventures. Under the terms of the agreement, GM will take a minority stake in Bright. At the same time, Bright will gain access to GM technologies, including advanced engine and transmission systems. GM plans to begin sales of the Chevrolet Volt, a plug-in gasoline/electric car later this year. Like the Bright truck, the Volt can also travel up to 40 miles under battery electric power. GM announced the creation of General Motors Ventures in June. The venture capital arm was funded with an initial investment of $100 million. Lauckner had been GM's head of global product development. finance.yahoo.com