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V-Vehicle Loaded with Heavy Hitters, Short on Details
A press release from Louisiana Economic Development has announced plans for a startup car company, V-Vehicle, to build a new car in an old GM parts plant in Monroe, Louisiana.
Headquartered on S. 16th street in San Diego, V-Vehicle Co has said next to nothing about the actual car they want to build, but they have asked the US Government for loans totalling around $340 million.
Louisiana Governor Bobby Jindal held a press conference that included lots and lots of posturing, so let's take a look at the big guns behind this project:
Founded in 2006, V-Vehicle Co. does not, so far as I can tell, have a website yet. Hopefully that's not an indication of how quickly they work.
--VVC Founder and CEO Frank Varasano is on the board at Affiliated Computer Services Inc, he's a former EVP at Oracle, spent 26 years at Booz Allen Hamilton, and he has an MBA from Harvard and a BS from the US Naval Academy. He also served as an officer aboard a nuclear sub, the USS Patrick Henry.
--VVC Chairman Ray Lane is a KPCB partner and former President and COO of Oracle.
--VVC Director Of Design Tom Matano used to be the design chief over at Mazda and is responsible for the Miata. He's boasting that the V-Vehicle will be an "icon of American industry."
--Kleiner Perkins Caufield & Byers (KPCB) is a heavy hitting Silicon Valley venture capital firm with more than a few wins to their name: Google, Amazon, Genentech, Electronic Arts, Intel, Compaq, Sun Microsystems. Partners include Al Gore. KPCB also provides funding for Think Global, the Norweigian electric-car company.
--T. Boone Pickens is a millionaire Texas businessman who founded Mesa Petroleum in 1956. Lately he's been in the news for pushing a variety of proposals regarding renewable energy. He also leads the hedge fund BP Capital Management.
Founded in 2006, VVC does not, so far as I can tell, have a website yet. Hopefully that's not an indication of how quickly they work. Clearly tons of cash ($250 million so far) has gone to, or has been designated for, the proposed vehicle; the least they could do is provide a sketch of the thing.
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