GM Ventures capital companies fund Proterra for electric-bus development
General Motors has been known to churn out some pretty green vehicles before, including the famed Chevrolet Volt. Now, GM Ventures’ capital company Kleiner, Perkins, Caufield & Byers has pooled in bucks with electric bus maker Proterra for the development of an electricity-powered city bus. With a generous funding of $30 million from GM, the Golden, Colorado based firm will soon begin work on development of all-electric buses which might just replace the now prevalently used diesel municipal transit buses, though costing just the same as a diesel-hybrid bus. That’s not all. These green buses also recharge in about 10 minutes, an astoundingly quick juice-up time for a vehicle with typically large batteries and weighs 20 to 40% lighter than conventional buses!
With this, municipal transport across the world seems destined for a greener change, and we can’t help hoping for other bus-manufacturers to be inspired.