- Jun 26, 2007
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The companies, Aptera Motors of Carlsbad, California and Austin-based ActaCell, are to receive a significant sum of money. Quite how much we don't know as the investment is undisclosed.
So, what will the companies do with Google's hard-earned cash? Aptera Motors will put it towards developing an ultra-high efficiency vehicle based on improved aerodynamics and composite materials.
ActaCell will use it to further their studies in lithium-ion battery technology, looking to further the life of the batteries and lower the costs.
Speaking about the funding, Google's investments principal Karl Sun said: "We are pleased to announce our first RechargeIT investments in two promising companies tackling the challenge of vehicle electrification.
"Both of these innovative companies and their capable teams are working to develop technology that is crucial to helping us realise the RechargeIT vision of millions of plug-in vehicles on the road."